AUD/USD: Expected To Seeing A 5-Wave Decline
Ian Copsey | Apr 14, 2015 03:10AM ET
INTRADAY CHART
14th April:
We appear to have seen the Wave -b- at the 51% retracement and therefore we should be seeing a 5-wave decline. Currently we are in Wave (a) of Wave (iii) and it looks as if we shall see (brown) Wave iii between the 361.8%-398.4% projection at 0.7497-12. With Wave ii being 37% we'll probably see the Wave iv around 50% and thus the Wave v will stall just below the Wave iii - potentially the 0.7460-80 area. This will form Wave (a) and thus we'll require a correction in Wave (b) that needn't be too deep because the Wave (iii) looks like reaching the 361.8% - 398.4% projection between 0.7293 - 0.7330. This would provide a Wave (iv) and Wave (v) that would move down into the (daily) Wave [iii] target range.
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