Here is another variant, as a comparison to my previous chart. This scenario only applies in one case, namely if we do not have a break & close above 1.18355 on a daily and weekly basis, because in that case red wave 4 would overlap red wave 1. >>> If this view is confirmed, we would be able to ride the black wave (3) in the second half of the year, which of...
Keep an eye on this currency pair! If not before then in April one could expect a longer short trade. In that case, the SMA 200 should be reached and rise sharply again sometime in July. A clear break and staying below 80 would postpone the increase to a later point in time.
If we see break and closing below 1.5260, then it goes one round lower, i.e. April should form a lower low than March. Target: 1.5060 - 1.50. In my estimation, willing buyers will show up in the second week of April. For the expected recovery, I currently see 2 paths (blue & light blue) but in both cases the goal is to reach the SMA 200.
The black 5 should be completed in the middle of the third quarter, i.e. the blue A) should reach its end and then I expect prices to fall for at least a year. The rest as shown in the chart. AUDJPY is often an indication of the Dow Jones development, which means that the Dow Jones could make another high. If you pay attention, then it would be absolute class to...
Here is an alternative to my previous chart. In this case I assume that the red wave 5 will end next week and the blue A) has reached its full extent. The price mark at 67.69 represents resistance and it will be difficult to rise above it immediately. Should this succeed contrary to expectations, then 69.53 ($ 70) would be the next stop.
We could see the annual high not next but the week after next (watch out for March 15th?!?). A short entry could be very profitable. Condition: there is no closing price on a daily basis above 14404.