AUD/USD Wave Relationship at .9665 May Have Capped Rally

| 21 oktober, 2013 | 0 kommentarer

Daily

eliottWaves_aud-usd_body_audusd.png, AUD/USD Wave Relationship at .9665 May Have Capped Rally

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

AUDUSD has extended gains following the 10/10 outside day. In fact, Friday was the 8th consecutive daily advance.

-The rally from 8/5 consists of 5 distinct waves. A common relationship is equality between waves 1 and 5. In this case, wave 5 (from .9280) would equal wave 1 (.8847-.9232) at .9665. This is also the 6/14 high.

Trading Strategy: The market is stretched and this is a great place for a turn but there isn’t much evidence of a top just yet. Weakness below .9510 would suggest that a top is in place.

LEVELS: .9510 .9567 .9614 | .9665 .9710 .9791

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *