AUDUSD : Price Trading In A Correction; We May See Lower Levels Ahead

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 13, 2015.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
    Likes Received:
    AUDUSD bounced higher this week to 0.7150 so seems like that bears are not ready to take control just yet. On the updated chart we see wave 4) no still in progress and the reason is a corrective structure from 0.7384. As such, this leg must belong to some bigger and more complex pattern. Our favorite idea is a triangle so current leg up can be wave C with limited upside around 0.7200-0.7250. Generally speaking we still think that AUDUSD will hit new lows by the year end but seems that we will

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