AUDUSD impulsive decline unfolding



AUDUSD appears to have completed an impulsive wave to the downside after reversing at the fibonacci resistance zone (1.0210-1.0230) explained in my last post. I believe this to be a very minor wave of a massive wave 3 decline.

AUDUSD Correction nearly complete

AUDUSD appears to be nearing completion. I hesitate to say that it is yet complete as I cannot distinguish all the sub-waves within the fast Wave 5 Blue of Wave C Green. Therefore, I think it is likely that prices still have a little momentum left to touch the Fibonacci resistance zone near where Wave C = 1.618 * A level at 1.0210 and where the 50% retracement of the decline from 1.1080 is located at 1.0230. What should follow should be a spectacular decline to new lows as a third of a third wave begins.

EURUSD Correction Complete

The EURUSD appears to have completed a simple zig-zag corrective wave and should be headed for fresh lows.