AUD/USD 28 January 2015 Primary Cycles

AUD Primary cycles

The Primary cycles in the AUD was always going to continue down into the 2014 lows and then follow a 2 period cycle pattern towards the 2015 lows.  

The large Primary cycle has now completed, reaching the 2015 lows @ .7861, and when we compare the current price action with the price action in the Precious Metals (GOLD & Silver), there is very good reason why the AUD can now begin to rise upwards.  (READ Previous Report)

To confirm the long term view of AUD finding support, there needs to be a breakout of the 3-week highs, or a move above the February 50% level around .8230 to help validate the current price action.

Primary & Weekly cycles

Short-term cycles have a Weekly breakout @ .8044 , Weekly 50% level rejection, and now likely to follow the trend down into this week's lows and then February lows next week, as part of a break & extend pattern

AUD/USD 1st January 2015 Primary Cycle Report

AUD Primary cycles

The Primary cycles in the AUD was always going to continue down into the 2014 lows and then follow a 2 period cycle pattern towards the 2015 lows. 

This view was based on the Dilernia Principle of Break & extend pattern in 2013 lows, heading down into the 2014 lows, and then follow another principle of a 2-timeframe wave pattern:- 2015 lows

All that information is found in my books.

http://thetradingbook.blogspot.com.au/

As we can see the DEC lows has supported price, but it is now likely to follow a January pattern down into .7951, and then make its way towards .7861 as the 2nd target in the Primary cycle

This is the next long term BUY zone, however it would not surprise me to see the AUD dip as low as .7621 in the 2nd Quater before institutional buying comes in to Support the AUD and sell the US dollar.

This also fits in with Metals following the same patterns of long term Support. (Read Gold & Silver)

 http://goldcoppersilver.blogspot.com.au/