March AUD

9 sty 2017There is a large head and shoulders developing on the USD index that should in the coming weeks propel the AUD, CAD, NZD, BPD, EUD, upward. The left shoulder and head have been created. Looking for the right shoulder in the next two weeks. Elliotwave was breached in the last two days by having position 4 enter position 1s territory. Gartley pattern still intact. Could be a small 38.2 retracement before rising. Depending on where the neckline is on the USD shoulder comes will dictate how much further AUD will fall. AB leg of the Gartley may also not be complete. Could run higher.