Stock and Commodity Markets Forecasting: Australian Dollar Pair AUD/USD Analysis, and Forecast 7-27-11

Wednesday, July 27, 2011

Australian Dollar Pair AUD/USD Analysis, and Forecast 7-27-11

I commence with my gratitude to The All-Knower

AUD/USD Australian Dollar Forecast 7-27-11

Australian dollars has climbed to the highest level known to this pair. However, looking at the monthly chart of AUD/USD, it is becoming evident that recent climb is most probably the highest price, it would have achieved and probably a crest, this pair was aiming for.

Wave 'AB' from 1996 high to 2002 low, was equal to massive water fall decline wave 'CD' of 2008-2009. The wave 'ab' rise from 2002 low to the 2008 high, is equal 2009 low to current price, the wave 'dc'. Furthermore, the current price is being clustered within many Fibonacci extensions and retracements, combined with the resistance offered by the Pitchfork price/time tool. Therefore, Australian dollar shall find a reason to decline from these levels.

3 comments:

luc said...: Mr Syed, AUDUSD is highly correlated to EURUSD and SP500

http://stooq.com/q/?s=audusd&d=20110727&c=10y&t=l&a=lg&r=es.f+eurusd

prediction for AUDUSD to go down would mean that same thing will happen for stocks and eurusd.. but your prediction for stocks is different; Wednesday, July 27, 2011 at 2:46:00 PM PDT
Anonymous said...: Dear Mr Syed ,

The above chart is based on monthly bar. Will the correction be quite big and its target is quite low ?

Thanks.

Marco; Friday, July 29, 2011 at 6:35:00 AM PDT
Capitalist Anarchist Reductionist said...: Hi Syed,

Considering this is a monthly long-term topping play; do you have 1 or 2 targets (with respect to monthly time frame)?

I was thinking 99.75 area last target. Please humble my barbarian guesstimate.

peace

Hedvig; Tuesday, August 2, 2011 at 6:55:00 PM PDT