Aussie has been in a decent bullish rally since late September. This rally is most probably part of the C wave of the 4th wave up and thus should end soon.If we consider the last 4th wave top as the maximum area that the bulls might manage to push, this Gartley pattern should usher in the new phase of selling which should drive prices lower into the 0.69 area and beyond.
Considering the impulsive nature of the C wave, I won't go short until the bears can manage to take a daily low.
Good luck,
Ali Sharif Azadeh, CFTe
Considering the impulsive nature of the C wave, I won't go short until the bears can manage to take a daily low.
Good luck,
Ali Sharif Azadeh, CFTe
Comment:
We've seen a sharp decline in the right time. I expect this decline to continue.
