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Thursday, February 23, 2012

AUDUSD Daily Chart Detailed Count

Here is the daily wave count of AUDUSD I believe that we are in wave 5 (red) of 3 (blue) that will lead us all the way to 1.0920 area. Later we should have some retracement for wave 4(blue) and finally complete wave 5(blue) of C around 1.1020 area.  As I said in my previous post on the daily chart of AUDUSD, the end of wave c will be also the end of wave B of the flat formation(please see the previous post on the daily chart of AUDUSD). As I said in the previous post, the formation might be irregular flat, that means that wave B might terminate around 1.14 and then have wave C leading all the way down to sub .90's levels.

Good luck:)

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