MartinScull
Long

AUD/USD Channel opportunity

FX:AUDUSD   Australian Dollar / U.S. Dollar
Hi Traders,

A look at the weekly perspective here, the Fibonacci levels are from a monthly retracement which began its descent in September 2014.. a while back now!

The bullish channel which arose from the bottom of the descent has been grinding steadily upwards since the middle of January 2018 on the weekly chart, creating many opportunities on lower timeframes.

Here, we are presented with another. It looks about time for the bulls to enter once again within this channel... Look first for the 38% level 0.78176 to be broken before offering a clear third run at the 50% level of 0.81199.

Happy trading!
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