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WrightWayInvestments

AUDUSD - Bearish Continuation

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
WrightWayInvestments Updated   
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis elliotwaveanalysis Bearish Patterns audsud breakout Trend Line Break fibbonachi
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trendanalysis chartpattern waveanalysis elliotwaveanalysis bearish audsud breakout trendlinebreak fibbonachi
As shown AUDUSD is showing some nice bearish sentiment. It first broke the trend line and impulsed downward to broke the structure of the bullish movement. These are indication we may be in Wave 1 of the Elliott Wave Theory.

Second the pair retraced to the Key FIB level at 50% and showed a strong resistance to the upside, also breaking another trend line indicating this could be the end of Wave 2 and Wave 3 could be forming. Wave 3 is usually the most volatile wave and would be a strong impulse downward.

I have this Idea being invalid 0.71552 and TP @0.67161 and TP 2 @0.65123.

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Comment:
AUDUSD is currently showing a nice decline!
Comment:
Still going strong!
Comment:
TP 1 CRUSHED ALMOST AT TP 2
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