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. |
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