AUD/USD-Watch for Intersection of Measured Level and Trendline This Week

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eliottWaves_aud-usd_body_audusd.png, AUD/USD-Watch for Intersection of Measured Level and Trendline This Week

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: While possible that an important low is in place for the AUDUSD, one more low is possible. Action since 5 am on 6/20 could compose a 4th wave flat correction in which case the AUDUSD would top before .9433 and register one more low before a sharp reversal. Make no mistake, we are close and I want to be long…but timing is critical (always is). Friday’s weekly includes additional AUDUSD details.

FOREXTrading Strategy: Looking for a low next week….watch the S&P 500 if it gets to 1550, especially if on Monday. This setup was discussed in detail during Friday’s DailyFX PLUS webinar.

LEVELS: .9114 .9165 .9238 .9290 .9340 .9380

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