finitemonk

AUDUSD/SPX Correlation & Wave Count

FX:AUDUSD   Australian Dollar / U.S. Dollar
89 0 3
I'm not so much interested in the tight correlation, what interests me is the apparent same minor wave count.

As suggested previous chart on the AUDUSD             it had formed a wave e and then it did a lovely (and very profitable) 400+ pip drop off taking out the low back in September last year.

But after what I've labelled as wave (iv), ending 0.70487, of the drop it appears to be doing a repeated a-b-c pattern, suggesting an ending diagonal in the making. (This pair is seemingly in the right place to do that.)

The same as the S&P             . (Which I was trading yesterday, logging that little drop as of a-b-c form) And I THINK both have just completed wave a of iii             (?)

If all so, this may be the beginning / middle of the end of a major wave for this forex pair. And the AUDJPY             . And the commodities / crude, USDCAD             etc. connection, blah-blah … crude & the USDCAD             / AUDUSD             turning up or down into a major 4th (I think).

I would stress this is a POTENTIAL ending diagonal in formation.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out