If you look further back on, we can see price is in a range that was eventually broken(0.7595). After that major push in price, then saw a pullback to 0.7700. To confirm by DOWNSIDE bias, ill be looking for price to break and close below 0.7635 then 0.7595 to our first TP(0.7545) then 0.7488 if the opportunity presents itself
We can see the previous FIB has been completed and that there’s a possibility of a pullback as price has formed a huge Bullish candlestick almost engulfing the previous candle and close above the 108.00 Weekly K.L. Therefore my bias for this pair to rally to 112.00 before we can form our next bias for the pair. IF NOT then price will test the M.As as resistance...
Over the past few months, the pair has been making a series of Lower Highs and Lower Lows. On the daily timeframe , we can see that this pair is currently in the process of forming a LH meaning that in the next few weeks, a LL is inevitable.
We can see that after price has come near the K.L of 1.3250, there has been a pullback 3 times. Could this indicate that price has found resistance and we could be heading back towards 1.2500? The moving averages are still crossed over to the downside but price is in the middle of them meaning we can see a change of direction soon. BUT we can see that there has...
After a rejection of 1.3269, ill be looking for a close back below 1.3100 to confirm my bias one this trade back to 1.2980
After testing the 61.8% for the second time on the WEEKLY FIB, we can see Aussie dollar make some new highs on the h4 timeframe