“Price action in the AUDUSD since the October 2008 low has carved out what could be a head and shoulders continuation pattern. This is pure speculation at this point but the ‘look’ is there. For the last 3 days, the pair has been testing the left shoulder level. Staying below .7050 keeps the short term trend pointed lower.” I see 5 waves down from .7093, a top in AUDUSD will be confirmed. A push through .7275 could complete a complex correction from .60. Either way, I am looking to go short.
