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31 Mar 2015
AUD/USD: more weakness to come – EW-Forecast
FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, views that AUD/USD correction might be over and the pair might resume its bear trend.
Key Quotes
“AUDUSD reversed sharply to the downside last week from 0.7936 high with recent accelerating price trough the lower side of an upward channel.”
“As such, we assume that correction is already done in fourth wave as current bearish move has impulsive qualities, so more weakness will be expected in days ahead, back to to the lows as we see big blue wave (5) in progress.”
“In the meantime any bounce will be treated as just short-term correction within ongoing trend.”
Key Quotes
“AUDUSD reversed sharply to the downside last week from 0.7936 high with recent accelerating price trough the lower side of an upward channel.”
“As such, we assume that correction is already done in fourth wave as current bearish move has impulsive qualities, so more weakness will be expected in days ahead, back to to the lows as we see big blue wave (5) in progress.”
“In the meantime any bounce will be treated as just short-term correction within ongoing trend.”