Sunday May 24, 2015 - 18:38:39 GMT
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Max McKegg's AUDNZD Forecast
Since calling the end of Ozzy’s multi-year Bear market versus the Kiwi (refer Weekly Chart below) the Ozzy has rallied strongly and continues to trace-out an “impulsive” wave sequence to the upside.
The best interpretation at this moment is that the Ozzy is now completing a short term 4th Wave correction, giving-way to the next advance onto new highs for the year (refer Daily Chart below).
If Wave (5) is equal to Fibonacci 1.618 X Waves (1) – (3) then a rally toward the 1.1200 level can be anticipated.
Bottom Line: AUD/NZD is probably readying for the next leg of its Uptrend to new highs for the year, with the potential to reach 1.1150 - 1.1300 over coming days/weeks. To receive my Daily FX Trading Advice – Request Trial below.
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Disclaimer: Max McKegg & Technical Research Ltd accept no liability whatsoever for any loss or damage that maybresult, directly or indirectly, from any forecast, comment or opinion, information or omission, whether negligent orbotherwise, within this report.
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