Analysis of monthly time frame using correlation between the AUD/USD and USD/AUD shows a great long term SHORT opportunity. Trade at your own risk.
1. Cup formation has completed
2. Potential formation of handle
3. Formation of Double Top and break of support
4. Strong red candle trend line break
5. Closing in on horizontal correlation line. A crossover puts the Dollar in a strong position.
Theory: 1999, the USD was strong and outweighed the AUD. The Great Recession took place and flipped the outcome. Now that the US Economy is increasing its Health, analysis is showing a likely USD breakout.
1. Cup formation has completed
2. Potential formation of handle
3. Formation of Double Top and break of support
4. Strong red candle trend line break
5. Closing in on horizontal correlation line. A crossover puts the Dollar in a strong position.
Theory: 1999, the USD was strong and outweighed the AUD. The Great Recession took place and flipped the outcome. Now that the US Economy is increasing its Health, analysis is showing a likely USD breakout.