ISO_EnvyFx

ISO_EnvyFx

After bouncing off the .5 fib ext 3 times, GBPAUD finally dropped over 200 pips early Friday. Hopefully some of you were able to catch the drop. Based on the fact that the 8 EMA crossed the 34 EMA already, I expect more downside to continue on this pair. MacD has also crossed for more bearish confirmation. It continues to make lower highs and lower lows, and this...

ISO_EnvyFx

I went long at the bottom of the tl on Thursday @7101. As expected, AUDUSD bounced off trendline support at 7096, and has made highs of 7198. Some pullback is to be expected, however watch the reaction to the price around the 38.6% Fib ext. EW analysis shows this move as a possible C wave up of not only the minor ABC pattern, but of the MAJOR ABC pattern. This...