Thursday, October 13, 2016

Audnzd, Imminent bearish move?

In the last update on this currency pair, we identified an impulse wave and projected a bearish move to 1.03- 1.04.

Price rallied above our identified top as the 5th wave became extended.

This is one of the patterns where we see double extensions within an impulse wave.

The extended 5th wave may have completed just below major resistance level (in yellow) and price may now start a bearish corrective move that could go as far as 1.04275.

We identified this pattern before the London market was opened today and shared with members of our Telegram Channel with trade recommendation.

You can also be part of our Telegram Channel and get uninterrupted updates when we identify the completion of a pattern.

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