AUDUSD experimental chart
Not to be taken seriously -- experimenting here
First 1.618% fib target hit Sep 2013
0.5 pullback meant not enough for another 1.618% target (0.83208)
0.618 pullback - more downtrend but trend is becoming compressed
trendline from 1.06 supports FALLING WEDGE theory
it has broken through too quickly however - it should have gone 0.86 then broken out
SO...
Primary idea: Fail 0.943, retest at 0.88-0.89 before heading back to 0.925 with a longer target of 1.02
Alt idea: punch through 0.943 and head for 0.99679
First 1.618% fib target hit Sep 2013
0.5 pullback meant not enough for another 1.618% target (0.83208)
0.618 pullback - more downtrend but trend is becoming compressed
trendline from 1.06 supports FALLING WEDGE theory
it has broken through too quickly however - it should have gone 0.86 then broken out
SO...
Primary idea: Fail 0.943, retest at 0.88-0.89 before heading back to 0.925 with a longer target of 1.02
Alt idea: punch through 0.943 and head for 0.99679
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