My picks: stand aside on commodity currrencies for now
Expertise: Technical
Average Time Frame of Trades:
Unfortunately, long AUDUSD orders were not triggered as the trade got away from us. However, there should be a decent short opportunity in the next few weeks. The rally from .6953 is wave v of C and the objective at .7630 has already been reached (which is where wave v of C would equal wave i of C). The next potential resistance level is from the 50% retracement of the decline from .9822 at .7693. Divergence with RSI warns of a top within the next few weeks.
