Disliked{image} With the RBA hammering down its own currency, no doubt we are now in bear territory with former SR line at .9280 broken. Next support line we see former friend .9130. If this is broken, which highly likely if RBA speaks again next week, we see further downslide to minor line at .907. However, monday news is light, therefore we might see price going sideway in the early week. I am not a EW expert, but we may be in the 5th wave, if we see a bull candle on next monday, we might see a little retracement where higher PA will lead to selling pressure....Ignored
EWC on daily Aud/Usd
Attached Image (click to enlarge)
i think i will start shorting with small positions with the market open all the way up to 0.9750 (to average my short, of course if we get there!), SL would be above the 61.8 Fibbo retracement at 0.9950, and TP would be HELL LOL, actually 0.89 :nerd: please refer to the attached chart {image}
