Hello fellow traders,
I would like to introduce you my idea of the following actions in AUDUSD pair. It looks like a top has been formed and now we do have lower lows and lower highs. According to Dow theory in order to get a down trend we should have lower lows and lower highs, so this is the case. Also, it has been 2 months with some time of rising zigs ABC X ABC. It would be a very nice to see some decent fall. Who knows maybe Australia will surprise us with another rate cut or FED will step in. Either way it would be a nice gift.
I would like to introduce you my idea of the following actions in AUDUSD pair. It looks like a top has been formed and now we do have lower lows and lower highs. According to Dow theory in order to get a down trend we should have lower lows and lower highs, so this is the case. Also, it has been 2 months with some time of rising zigs ABC X ABC. It would be a very nice to see some decent fall. Who knows maybe Australia will surprise us with another rate cut or FED will step in. Either way it would be a nice gift.
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