let the good times roll - wednesday, page-30

AUDUSD

Looks like its ended a 5 wave advance at 0.9757, at minimum I am expecting a 3 wave decline to correct this move.

So as long as it remains below 0.9757 the target is 0.9300 (50%) retrace.

There are many "risk related" forex pairs particularly the JPY crosses, like AUDJPY and EURUJPY, that look like they can see a strong move lower.

If those JPY pairs unwind, trust me you do not want to be long stocks. its all related, the markets move on technicals not the funnnymentals.

If the JPY carry trade unwinds, its going to be fun for the bears on stocks.

DYOR