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AUD/USD: Looking For Losses

Published 07/02/2013, 02:47 AM
Updated 07/09/2023, 06:31 AM
HOURLY CHART
<span class=AUD/USD" width="761" height="429">
2nd July:

At long last recent moves have gone in line with my forecasts and this does seem to favour my expectations of the 0.9060-79 area holding. We may have seen the (cyan) Wave iv at 0.9252 (27% retracement) but allow for the 33.3%-38.2% between 0.9288-0.9314. Overall we should now be looking for losses back down towards the 0.9112 low in Wave a followed by a pullback in Wave b and finally a Wave c / v to the 0.9060-79 area. Ideally we should see both a 4-hour & hourly bullish divergence to support the daily bullish divergence.

First reversal should be back to the Wave b of Wave v and while there could be some consolidation the next larger traget will be the span of Wave -b- of Wave -v- which is quite wide between 0.9440 and 0.9580 (approximately.)

RATIO TABLE
RATIO TABLE

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