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Forex pairs in this Article » AUD/USD

eliottWaves_aud-usd_body_audusd.png, AUD/USD Working on 5th Consecutive Down MonthChart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: From a pattern perspective, movements since the August low are corrective (3 waves up and 3 waves down) which raises the possibility of a triangle or flat. The implications from both would be for higher prices from the current level. This is just a possibility.

FOREXTrading Strategy: Trading on the upside isn’t yet warranted. Price would need to exceed the line that extends off of the 8/19 and 8/26 highs in order to warrant near term longs.

LEVELS: .8800? .8847 .8891 .8978 .9058 .9110

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