Fibonacci time cycles 5-8-13 weeks AUD/USD

Discussion in 'Technical Analysis' started by forexroadmap, Jul 21, 2013.

  1. AUD/USD shows a great regularity so for this year (weekly data):
    1) 8 weeks between the top week 07JAN and the bottom week 04MAR (a decline of 484 pips)
    2) 5 weeks between the bottom 04MAR and the top 08APR (a gain of 467 pips)
    3) 13 weeks between the top 08APR and the bottom 08JUL (a decline of 1583 pips).
    I also notice a 13 week decline between 27FEB12 and 28MAY12.
    5-8-13 are Fibonacci numbers.
    Are we heading now to a bounce, that could last 5 or 8 weeks and lead us near 1.00 which is the 62% retracement of the last 13 week decline? This would mean a 800 pips upward move.