AUDUSD due for a cycle top now (forecast)

FDateTrader

Junior member
21 1
September 10 marks the date for the top of the Australian Dollar cycle pattern. At the most I do not see it going beyond the 11th.

The downside target appears to fall around September 20, though more will reveal itself following the start of the formation of a swing top now.

This is short-term. I believe that AUD has already started its bear-trend correction that some indications point to moving higher into late November this year.

So the decline expected now is counter to that longer-term trend outlook and I would surely be vigilant in moving down the stop-loss as prices decline.

:)
 

bustech

Experienced member
1,595 41
0.93 is a big area for the AUD.
Going to need a catalyst to break and hold that.
Don't think Aussie unemployment data this week will be the catalyst.
Might pop above and not hold.
More likely to be the FED meeting for the break above 0.93 and hold.
Also if the markets keep going up the AUD will go along for the ride.
And the good data out of Asia may hold off any more rate cuts by the RBA this year.
A break above 0.93 offers 0.96

That's my 2 cents and been known to be wrong before.:LOL:
 
 
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