AUS/USD: SHORT-TERM TRENDS
Following the Australian Dollar short-term:
The chart on the left is a slight continuation chart from a chart price prediction given earlier on this website in the member’s private section.
You can find the original post by going back to June 3rd of this year and taking a look for yourself.
On that original chart, prices were just going into the .9770 price area and into an anticipated high probability top area as determined by using the Excalibur Method.
What followed that anticipated top price area?
Observe the chart to the left where you’ll see that, indeed, prices for the Aud/Usd did top and start to decline from that very top price area.
These are short-term positions and evaluations for trends are also short-term oriented, but, the same process works for longer-term mega-trends which present much greater profit opportunities.
I’ve posted a copy of one of the charts from the June 3rd posting for your examination just below.
On this chart it’s clear what price area was attracting my attention.
It was the .9770 price area pointed out on the chart with a red horizontal arrow.
The top chart in this post shows just how precisely this worked.
What followed that top (and the current signals generated by the Excalibur Method approach to analysis) are visible on the chart below; but – only to members.
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Some AUS/USD Trend Progressions since June 3rd.
The chart to the left shows addition hypothetical Excalibur Method buy/sell points as well as another proposed top signal for the period from June 2nd to June 17th.
The present market as of the latest date is still in a downswing mode.
The upside resistance is located at .9625 and, if this resistance price is taken out, a strong move to the upside will be in order that could last 2-3 days.
The low side support price of .9500 will be important and if prices break this to the downside, then, we’ll have clear sailing downward to a strong support area of .9400 where prices should find pause. – George [/private_Free Observers Level Membership] [/private_Level 2 Elite Membership]