Yesterday’s Australian Dollar Results

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:

AUS/USD: EXCALIBUR METHOD ANALYSIS

AUS/USD: EXCALIBUR METHOD ANALYSIS

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 . . .

AUS/USD: EXCALIBUR METHOD ANALYSIS

AUS/USD: EXCALIBUR METHOD ANALYSIS

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 . . .

AUS/USD: EXCALIBUR METHOD ANALYSIS

AUS/USD: EXCALIBUR METHOD ANALYSIS

 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]