Elliot_Myers
Short

AUDUSD 61.80 Reversal Next Week?

FX:AUDUSD   Australian Dollar/U.S. Dollar
Price action has closed with 3 failed weekly attempts at breaking the 0.76435 level suggesting that a move lower is most probable for the week ahead.

What is target ?
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Elliot_Myers ahmetnmsl
Hello Ahmetnmsl!

Price congestion around the 23.60 (0.71340) level suggests we'll see resistance here and so that'd make a good initial target.

A long term target would be a re-test of the swing low 0.68270.
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ahmetnmsl Elliot_Myers
Thanks
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ahmetnmsl Elliot_Myers
Do you believe we can see the first target 0.7134 in 2016 ?
Reply
Elliot_Myers ahmetnmsl
Yes - price is trending in this direction. As long as it follows the bearish triangle this target is viable.
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