EuroMotif

AUDUSD about to bounce? AU dips to watch for long entries

FX:AUDUSD   Australian Dollar / U.S. Dollar
AU got a nice bounce on Friday, even though it was mostly due to Dollar weakness.
Nonetheless, the significant bounce should have at least an overshoot, if not something substantial.

I am looking for a ABC move, or like an AB = CD type of move, where the AB leg is almost duplicated by the BC leg.
The final Target will depend on how deep the B wave retraces.
Thus I have two possible paths for B to C, as well as the small green arrows in case of enthusiastic overshoot.

Lets see how this plays out early in the week.

This is idea is a follow up to my previous plan, which called for a short then long

Comment: AU dipped as expected. It tried to bounce at the first support zone, but the US session knocked it down to the second support I am re-evaluating and will post a new Idea with updated zones.
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