Bit of a mess at the current moment but I have worked with what I can see and interpret and this is it. I believe we are in the 'c' leg of the 'e' leg to finish off the triangle that is red 'B'. Price action has been slogging its way along the yearly trend line which seems to fit the bill of a 'B' wave. This will then usher in red 'C' to finish of the big pink 'C' for a significant change of fortunes for the Aussy Dollar.
We are clearly bearish here on the monthly trend but the SMI looks oversold. Given the time spent thus far in 'c' of 'e' from above, I think we may have just seen the first blue 'a' wave of that, so up some and then down again in what looks like a good trade to take from approx 1.0400.
The weekly trend is also bearish with what looks like a red 'a' bounce in the blue 'b' retracement from the monthly chart. So, I think we may see a red 'b' down to the gann/pyrapoint line at 1.278 and then up to the 1.0405 line and the regression channel perimeter, before falling in blue 'c'.
This is how the intraday wave ended on Friday. A complete mess, which suggests the red 'b' wave count in the blue 'b' wave from above looks about right to me. Maybe look to buy at 1.0278.
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