AUDUSD - Short term Bearish

FX:AUDUSD   Australian Dollar/U.S. Dollar
673 4 1
AUDUSD             has experience a strong bounce but think we could be on out way to retest the low or make another lower low before trend change to the upside. If we break above 0.94 then we could have the bottom in place and my labels are wrong. Looking at Gold             chart which most of the time have positive correlation is moving to retest the last low.

Gold - Continue bearish decline

AUDUSD             could likewise do the same. So for now I am bearish .
3 years ago
Short has been triggered with stop above the last weeks high, for now will look to move stop to BE and will reassess based on the price action for larger move and if the low will be retested or if the low is in already. Will Update this when evidence suggest it should be reviewed.
3 years ago
Sorry mate can't reply in chat as on iPhone an this site is too heavy for it. Your au analysis fits well with eu and yu and dxy. Tvm!! Question, In leading diagonal the moves within it are corrective even though the main move is impulsive right?
DanV MOD Monk
3 years ago
No. That is the case with ending diagonal. Leading diagonal is more than often an impulsive waves, ie 1,3 and 5 with internal 5 minors waves. Not sure if this helps.
Monk DanV
3 years ago
I googled leading diagonal. Yes but I'm struggling to count the moves on this as impulsive. Can u?! The move down fits with the larger picture but I can't see impulses...
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