With a potentially completed Elliott wave pattern (5 waves) from the 2008 low (6000), the risk of a sharp reversal and decline does remain. Yesterday’s market video
focuses primarily on Australian dollar crosses. Do not dismiss the fact that the high for the entire year remains the 1st trading day of the year. A move above 10256 would shift focus higher following a bullish triangle break towards 10500 or even 11000. The range has tightened and the AUDUSD should reveal its hand soon.
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