Monday, March 26, 2012

AUDUSD possible developments for this week

It seems that there is a terminal pattern forming on the 4hr chart. If this pattern plays out, we will need one more leg down below 1.04, and then we will have an impulsive rise to 1.06 area. It should take another couple of days for completion of the terminal pattern and have an impulsive rise from 1.04 to 1.06 area. Here is how the whole movement could play out

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