AUD/USD: 5th wave – 21 September 2012


The aussie has risen up to the 1.0500 level in what is probably a wave 5 of the move up from the start of September – itself part of a larger 5th wave. There is a chance the pair will rise even further and reach the monthly pivot at 1.0535 and then probably the trend-line at 1.0550 – at least on an intraday basis. Given this is probably a 5th of a 5th it could be shorter or longer than usual and may be followed by an unusually steep decline.



About Author

I was born in North London and Studied at Goldsmiths' College London University achieving a BSC Hons in Social Anthropology and a Diploma in Journalism. At first I was interested in writing and travelling and I began my career editing a magazine for a city breaks tour operator called Travelscene; then I also managed their website. Later I became increasingly interested in the financial markets and trading. My first trade was spread-betting the SP500, using an overnight strategy – I remember one year it made me enough money for Christmas – I thought it was great how you could make money like that in your sleep! Later my interests turned to Forex because of its 24-hour accessibility, the many different currency pairs and because of my interest in international politics. I managed a small fund which I set up with the help of some friends and traded the markets for several years with some degree of success. I am a member of the society of technical analysts and have contributed original research to their journal; I now also help mark their diploma papers. I enjoy refining and developing trading strategies, in particular for my 'baby' the eurodollar. When I joined Forex4you in 2010 I thought it was a great opportunity, working as an analyst for an international foreign exchange broker.

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