AUDUSD Analysis July 2015 (D)

The wait for final low continues. I am expecting a marginal false break low around 75c before a big bear rally takes hold. Let’s see where things are at using the daily chart.
 

AUDUSD DAILY CHART 

We can see the 7 point broadening low in play denoted by the numbers 1 to 7. We now just need the point 7 low to form before the belated bear rally can get underway.
 
The PSAR indicator has a bearish bias after price just busted the dots on the downside.
 
The Bollinger Bands show price is back at the lower band ready for the final drop into low.
 
The RSI looks set to throw up a bullish divergence at the coming low while both the Stochastic and MACD indicators are both bearish signifying the likelihood of lower prices.
 
Personally, I expect the false break low to be within half a percent of the previous low at 75.34c. In trying to pinpoint the coming low I am plonking on 75.10c.
 
Once the point 7 low is in place I expect a big bear rally as previously outlined that see price get up to at least 90c. We can try to nail down that low even further once the rally kicks off.
 
 

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Disclaimer

All information contained in this website is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors. Put simply, it is JUST MY OPINION.

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