AUDUSD 3 Peaks pattern - Update 28th Nov 11

The AUDUSD continues to follow the idealised '3 Peaks and a Domed House'(3PDH) pattern. The recent retrace to 107 a few weeks back was greater than I thought, however it did not violate the pattern and appears since then to vindicated it if anything. - My previous post on this can be seen here, I have posted a number of articles on this pattern on the AUDUSD over the past 6 months, with the initial posting in May first suggesting the possibility of this formation, even before it had hit a peak (can be seen here).

Here is the latest update of the AUDUSD and the 3PDH pattern. - The update is at the foot of this image, the top part of the image is the idealised 3PDH, with the middle part, the update from 13th October.

Note I have a minimum target of around 0.8000 with a maximum target close to 0.6000, with target possibly to be hit in 2012.


Further to this I have looked back a little further at the AUDUSD on the longer-term charts, and it appears as this 3PDH may be a fractal of a larger 3PDH. - With the current pattern formed since 2008 representing the second half of the pattern 'The Domed House', and the period representing 2003 -2008 representing 'the 3 Peaks'. - I will revisit this bigger pattern over the next few weeks, however this pattern seems to explain the and allow for the AUDUSD to visit both targets I have mentioned; the less aggressive target in the low 80s followed by a sharp correction back to around par and then a deeper correction towards around 0.6000 some time during 2012 or 2013. - This chart can be seen below. 

My usual caveat applies; 'patterns work until they don't'.

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RIP - Gary Speed - One of the premiership's finest.