AUDUSD - Weekly outlook - thesis and counter thesis
AUDUSD is still bullish. 1.0500 is the level to watch to the upside.
I believe that we are in a fifth wave of the lows, and it could be an extended wave
with 5 wave within.
The wave count could be wrong, and we could be in wave three instead.
If the market does't make new highs and breaks the 1.0340, but more importantly
the 1.0300, it means that the 5 wave move is completed and we should look
to sell the rallies. The 1.0370/0340 is a very important area.
SUP: 1.0400/340/300
RES: 1.0580/500/450
I believe that we are in a fifth wave of the lows, and it could be an extended wave
with 5 wave within.
The wave count could be wrong, and we could be in wave three instead.
If the market does't make new highs and breaks the 1.0340, but more importantly
the 1.0300, it means that the 5 wave move is completed and we should look
to sell the rallies. The 1.0370/0340 is a very important area.
SUP: 1.0400/340/300
RES: 1.0580/500/450