FX:AUDUSD   Australian Dollar / U.S. Dollar
After the FED Announcement on Friday it seems that the pair has made its gradual retracement back near the 50% of the 3rd wave after a final rally in favour of the Australian Dollar             . We have a good resistance structure holding the pair from heading any higher in order for it to start its final 5th wave down towards the Feb lows. As you can see the 4th is more of a gradual retracement compared to its predecessor (The 2nd wave which was a sharp retracement)

I will probably wait for the RSI to hit its own trend resistance before going on short as it may just continue to rally a bit further just before RBA Rate Decision on Tuesday morning. The technicals and fundamentals of this trade seems to line up correctly and this may just be a great shorting opportunity so Im thinking of getting in a bit earlier with a good money management. Stay tuned.
If it will move down now so what this trend will do in July or September after FED rate increase? It will not have where to move if it will continue down. Movement to the upside before rate increase, that looks more logical. Just think about this.
moemia LaiptaiCervinskas
I have my TP set around the 0.71000 area which is likely to be hit according to the technicals. I need to see what the RBA states when it is released on Tuesday morning. That will have an impact on this pair, hopefully in my favour.
If not then I will reconsider the possibilites of a USD rally against the AUD due to the FED announcements in the summer. I am just providing information on what I see in the charts and I am prepared to take a loss with this trade as I believe this to be a learning curve.

stream moemia
you are right about the main .. au eu are still bearish .. they will go down but now correction up is ahead .. 1000 pips lol
moemia stream
Ahh right I see, well thanks for the info!
this structure could be bullish , ..
moemia stream
It may be bullish or bearish. But my analysis thus is showing me that it is going to be bearish. I understand that a sharp rally from a bottom can indicate a bullish scenario but I have my stop in place to prepare me for any drawdowns.

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