We can either See AUDUSD head to .9445 or .913 for a healthy correction. We have conflicting signals here because the CHIKOU span broke out of the KUMO cloud and we are poised for a change in trend. The reason I believe a correction is necessary has to due with the recent decline in GOLD. Gold has fallen dramatically in the past couple of days which leads me to believe that the AUDUSD is late to correct the correlation broke down between AUDUSD/ XAUUSD.
This is why I believe that the in the short term we will have a correction to .9135 which will result in a bounce off of the TENKEN SEN. For possibly a rally to .9445.
This is a tricky situation lets see how things pan out with the news.
Good luck trading.
This is why I believe that the in the short term we will have a correction to .9135 which will result in a bounce off of the TENKEN SEN. For possibly a rally to .9445.
This is a tricky situation lets see how things pan out with the news.
Good luck trading.