Loading ...Down Under Dollar
Adding too Pixie’s post I thought I’d show a couple AUDUSD charts I have. You’ll have to excuse the short price data(forgot to save charts) so I’m pulling these images from an I email sent to a wizard in Australia’s Northern Territory back in October.
Every major bottom in AUDUSD in the last 50 years has built out a nice inverted head and shoulders bottom and this time looks no different…will it continue to rhyme? Obviously these timing forecast numbers are rough estimates and could be completely wrong.
Great stuff! Saved a few. That 1985 gap find is great work, truly.
Hey Thanks Mort, Been enjoying all of the work you have been putting out as well. I love to go back and find weekly gaps…often times they are the silent assassin in a chart, much like an invisible trend line that doesn’t die. I saw you mention that GLD gap the other day and that has been a target of mine as well…a Fibonacci friendly 161.
It took some 2 years for the AUD get into gear from 2001-2003 but eventually the 10 month SMA crossed the 50 month SMA, which is about where we are at the moment.
I elected to buy into the diversified miners in early 2016 but it has been a frustrating time with the AUD almost hosting a failed weekly cycle in late 2016 (as the USD peaked) then peaking in week 17 of the last weekly cycle which turned out to be 30 weeks in length (still right translated but not all that bullish).
Well the recent ICL, and the robust advance, has given me new hope that the AUD and the half 30 year cycle correction are behind us – we are currently in week 7
This weekly cycle may be shorter as the AUD tends to alternate between 20 & 30 week cycles so that would place the next ICL around early May and the next in early Dec
Thanks again for the charts Schism – they are a timely reminder of what happened in the past, and great support for cycle theory and my patience!
Glad the wizard himself could chime in…and patience has been needed indeed. Hopefully the churning grind is almost over. Over 82 and this should accelerate with some gusto.
Great charts. Looking good for that move up.
Wow, this old gap from -85, nice find! Great charts!