Lots of back and forth with the Trade War situation.
Plus, a big miss on recent economic news out of AUS has weakened it.
Looks like at least one more leg down, perhaps to end the week at the low.
Background:
I am a longer term AUD bear, anticipating a serious drop yet to come
Since then I have been looking for shorting opportunities such as this recent plan
After a nice ride down, I went long which worked out very well
And then I caught the recent stair step down quite nicely:
After some good news about the US-China Trade War, I was expecting a significant move up:
Then the news turned sour of course, so was looking for a drop from the top
And now I am looking at perhaps one more leg down before any strong bounce
Plus, a big miss on recent economic news out of AUS has weakened it.
Looks like at least one more leg down, perhaps to end the week at the low.
Background:
I am a longer term AUD bear, anticipating a serious drop yet to come
Since then I have been looking for shorting opportunities such as this recent plan
After a nice ride down, I went long which worked out very well
And then I caught the recent stair step down quite nicely:
After some good news about the US-China Trade War, I was expecting a significant move up:
Then the news turned sour of course, so was looking for a drop from the top
And now I am looking at perhaps one more leg down before any strong bounce
Note
First resistance seems to be doing its job Note
Upon furrther measurements, that first resistance seems probable to hold. Here is a closeup with a new fib and notes Note
I have posted a new Idea as an update, to fine tune the targets for wave 5 end 
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.