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WrightWayInvestments

AUDUSD - Rising Wedge

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
WrightWayInvestments  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis elliottwaveprojection Rising Wedge Bearish Patterns short AUDUSD Fibonacci Retracement
3
0
trendanalysis chartpattern waveanalysis elliottwaveprojection risingwedge bearish short audusd fibonacciretracement
As we can see AUDUSD created a rising wedge and fell below and show great resistance at the .705 Fib level which is a key Fib level for the 2nd wave of the Elliott Wave Theory. We should now be in the formation of the 3rd wave which is usually the most impulsive wave. On the Chart I marked my Take Profit levels so we can do now is wait to see how the market plays out.

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