AUDCHF Sells From Blue Box, Aligning With Long-Term Bearish Sequence
AUDCHF has been in a long-term bearish cycle from April 1992 in a somewhat corrective sequence. The structure appears to be a double zigzag — a 7-swing structure. Wave (W) of the supercycle degree ended in October 2008. Afterwards, the corresponding wave (X) bounce followed and ended in August 2012. Since August 2012, the pair has been in another bearish cycle for wave (Y). Meanwhile, wave (Y) has now reached the 100% extension of wave (W) from (X) — which could indicate completion. It’s also notable that wave C of (Y) is completing an ending diagonal structure from September 2014. Overall, the entire cycle from April 1992 may very well end within the 0.5385–0.4213 extreme zone.
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