mbon99

Wait for that AUDUSD short

FX:AUDUSD   Australian Dollar / U.S. Dollar
The NFP changed the game yesterday, yet we saw a lot of buying pressure down at the local support level, which has now been tested twice and failed to go lower. I expect the pair to reach the descending trendline, which also has a fib retracement. Notice though, that we have Fed Chair Powell to testify multiple times this coming week on monetary policy and economic outlook. One could expect every USD pair to be very volatile this coming week due to that, as we've seen the last times Powell has opened his mouth. Trade safe guys, but for the wave to be complete, my opinion is we'll see a drop at first touch of descending trendline/fib retracement. I'll make a narrow stop loss for that one.
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