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More upward movement on the AUD/USD?

Posted on November 19, 2009 at 2:55 in Uncategorized by Ross Yamashita

Greetings.

As mentioned in our previous post, here is our post on the AUD/USD.

We’ve seen a strong uptrend and there is still potential room for more swing to the upside.

Whether we may be in a potential Wave 2 or Wave 4 retracement, we know both waves have the 38.2% Fibonacci levels in common.

So, look for a potential retracement to the .9213 - .9095 area (depending on what Wave we’re in).

Once the retracement wave is complete, look for a potential nice movement back up. Where the currency pair actually turns back up will help give clues to which wave we could potentially be in.

We did have a comment asking about our take on the EUR/USD and we will have that for you tomorrow. Thanks again for the comment.

Also, don’t forget about the DISCOUNT you receive on the Currency Cowboy Trade Sheet. Visit www.ProPipper.com to read more information on it or email tradesheet@propipper.com to sign up (be sure to put “Trade Sheet” in Subject line and leave your contact information).

Good luck.

Pro Pipper Trading

Tags: Currency Cowboy Trade Sheet, Currency Trading, Elliott Wave, Forex, FX, Pro Pipper Trading, Ross Yamashita

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