Just to put it in simple terms there may be a pull back to the 50% fib re-tracement. Possibly only to 38.2% Wave analysis is actually built around Fibonacci sequence
{quote} in my view it will break .75 in the next two week. I do not think it falls as many predict.it's end year forecast is about .75 if rate goes up in us otherwise it will go up much higher take care.
Key to the next short term direction of the pair will be what NY does when it opens. There may be many different technical analysis theories, but honestly none of them will predict with 100% certainty which way the market will go. Look at the E/U a year ago when it was at 1.05. Did it continue downwards as many predicted, as wave theory predicted? Nope, it shot up nearly 700pips when the ECB acted. Personally, my instinct tells me the AUD will head upwards from here. There's honestly nothing new to push it below. The dec fed hike should be almost...
