Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Chart of the Day: Aud/Usd Impulse Bearish Structure

TheLFB NewsTheLFB-Forex.com A Forex Trader Portal

Chart of the Day:

Aud/Usd

Aud/Usd is still trading slowly lower towards the 0.8880 target zone; in the area where a Long turning point is expected. A black sub-wave V) is in progress now, and should complete a whole impulse decline from the 0.9326 top shown as a red wave I in our case.

Elliott wave traders will know that always when a five wave move is finished, a corrective reversal is expected. As such, we will look for a Long, red wave II reversal pattern once the near-term support is hit.

TheLFB Charting: Aud/Usd 4h view 

If you would like to be a part of TheLFB.com, to receive a full Elliott wave detail for Aud/Usd, and if you want to know what comes next and what to expect from the market, then join us now.

Follow Elliott Wave charts and updates on twitter.



Disclosure: No positions