Tuesday, August 28, 2012

Australian Dollar is completing a large triangle

The following is an extract of our analysis of the Australian Dollar in the Elliott Wave Technician August Investment Newsletter published 28th of August 2012. Some of the Elliott wave analysis and labeling on the chart has been removed for this presentation.

The Australian dollar (XAD) is near completing a multi month 4th wave contracting triangle marked in blue colour on the chart. Currently XAD is declining in wave "e" marked in black colour.

Geir Solem

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