FDateTrader
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September 10 marks the date for the top of the Australian Dollar cycle pattern. At the most I do not see it going beyond the 11th.
The downside target appears to fall around September 20, though more will reveal itself following the start of the formation of a swing top now.
This is short-term. I believe that AUD has already started its bear-trend correction that some indications point to moving higher into late November this year.
So the decline expected now is counter to that longer-term trend outlook and I would surely be vigilant in moving down the stop-loss as prices decline.
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The downside target appears to fall around September 20, though more will reveal itself following the start of the formation of a swing top now.
This is short-term. I believe that AUD has already started its bear-trend correction that some indications point to moving higher into late November this year.
So the decline expected now is counter to that longer-term trend outlook and I would surely be vigilant in moving down the stop-loss as prices decline.