1000 Pip Fall from 8100 to 7100 – The Australian Journey 2018

FX:AUDUSD   Australian Dollar / U.S. Dollar
Hello Readers,

Back after 9 months & feel amazing to see the dream come true which was expected in Jan 2018

1000 Pip Fall Makes 3000+ from 8100 to 7100 – The Australian Journey 2018

In back to back 3 legs 8100 to 7500 - 7500 to 8100 & again 8100 to 7100... Story continues

What an exciting year so far as an analyst if you were on the correct side i.e. the bearish side as we expected this fall from 8100 in previous year as well.

Let me revisit the larger counts & have been correct so far in assuming that we are in yet to complete Wave - 3 in larger Wave –C downside which likely take us to 6700-6800 zone prior lows & later a bounce could be expected close to 8000-8100 again going into the year 2019 which will mark end of Wave -4 in Wave –C

I have been tracking this counter because of special interest as USDINR my home currency which was expected to become weak against dollar & pointed several times in earlier update that we could soon may enter 70+ zones as Inverse AUDUSD & USDINR both had same correlation when USDINR was trading well below 65 mark/level at that time.

Inverse AUDUSD & USDINR both are brothers in different region.

Dollar Rupee
Dollar Rupee made new lows in Jan 2018 to be precise it was 63.25 & what a whopping rise to 72 levels

Inverse AUDUSD
Made Double Bottoms in Jan 2018 which confirmed that USDINR ( Dollar Rupee) will have rocket move next.

USDINR Last Update

AUDUSD Last Update

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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