Australian Dollar Working Back to .9100
This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-11-21
Commentary: A complex W-X-Y correction may be unfolding, with wave Y underway now. The rally from .8753-.9068 and decline from .9068-.8758 suggests that either a large flat is unfolding (W-X-Y) or that a triangle is unfolding.
In the former case, price is expected to exceed .9068 and possibly test .9153 (Fibo). Under the latter interpretation, price is expected to exceed .8995 but remain below .9068.
Strategy: Flat
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