YESTERDAY’S AUSTRALIAN DOLLAR CALL WAS SPOT ON
For those who are not members yet, this is the Australian Dollar chart that was shown in the private member’s area of this page:
The written commentary concerning this chart was to place a STOP just above the top that occurred around 3 PM in anticipation of a continued downswing in the AUD/USD.
THE STOP HELD AND THE MARKET DROPPED AS EXPECTED
That stop held and, while prices did try to rise again, the market lost steam and a significant down move took place from there over the next 10 hours that saw declines of over 140 PIPS. This is shown clearer on the chart below . . .
A CHART WITH THE UPDATED STOP IS BELOW
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Here is the updated chart with the current STOP for the downswing in progress presently . . .
The current stop is shown by the green line just under .9100. The bottom that took place around 7 a.m. was appropriate and should hold for several hours while the battle to push out recent short sellers wages with the market makers (Banks). If t hey succeed, it will be by taking the market higher first. If the STOP isn’t hit, then, it’s almost a certainty that this market will go much lower. – George [/private_Free Observers Level Membership] [/private_Level 2 Elite Membership]