AUDUSD - Potential Short Imminent (2nd Entry) with FOMC's Minutes later today
Please check the main chart with link below which shows larger bearish cycle with lot of room to the downside.
I am publishing this chart purely because the nature of retracement seems to suggest we have abc zigzag retracement with potentially wave "c" as being ending diagonal (Rising Wedge) which if correct would offer very clear stop loss placement and the breakdown is likely to resume the bearish cycle with wave (iii) developing which could be stronger than the wave (i) decline.
This potential short entry might line up with FOMC's minutes later today.
Downside target could be at least retest of the last low or lower still. See the main chart referred to above.
There is no need of any further note except to remind all:
As always, do your own analysis for your trade requirement. Select to follow me and the chart for notification of future updates. If you like the analysis then please indicate this by thumbs up, constructive comments and sharing with others. If you have an alternative idea then please share for all to learn from.
Thank you for taking the time to read my analysis.
DanV
danv-charting.com
Please check the main chart with link below which shows larger bearish cycle with lot of room to the downside.
I am publishing this chart purely because the nature of retracement seems to suggest we have abc zigzag retracement with potentially wave "c" as being ending diagonal (Rising Wedge) which if correct would offer very clear stop loss placement and the breakdown is likely to resume the bearish cycle with wave (iii) developing which could be stronger than the wave (i) decline.
This potential short entry might line up with FOMC's minutes later today.
Downside target could be at least retest of the last low or lower still. See the main chart referred to above.
There is no need of any further note except to remind all:
As always, do your own analysis for your trade requirement. Select to follow me and the chart for notification of future updates. If you like the analysis then please indicate this by thumbs up, constructive comments and sharing with others. If you have an alternative idea then please share for all to learn from.
Thank you for taking the time to read my analysis.
DanV
danv-charting.com
