Although I suspect Aussie dollar strength in the next few weeks. I believe the EURO strength will out pace it. I looking for the downward trend to end and more movement to the upside
I see some short term SGD strength that will outpace NZD strength
I see us in a channel heading to test the recent top.
I predict NU is going up to around .7800. I believe it will hit some resistance before hand at the .76 area. Then pullback at bit for another move to the upside.
I have changed my analysis over the weekend. Main reason being, since looking at the monthly chart and how the Daily ended up closing with a much smaller lower wick. I believe this will drop more.
We see the 5 wave completion hitting a longtime trend line. I will be long on this keeping an eye to see if it's more then retracement.
We see the 5 waves hitting a very strong trendline. I will watching to see if this is a reversal or retracement. Either way, I am going long for the next week
In the next few weeks/months I believe the dollar will go down a little bit followed by a strong move up . Followed by a very hard long drop down.
Here is a fun chart. If you zoom out to the weekly. We see a completed textbook bearish Gartley pattern finishing with the last (d) leg, right at the .786. As bearish gartley patterns usually do, it headed south. On the next chart we will zoom in to the new pattern being formed after the (d) leg. In the long run I believe the dollar will drop significantly to the downside
I see a higher trendline that might be targeted before we head downward.
I see another higher down ward trendline that might be targeted.