A brief show of my anticipated view of the AUSUSD Long position.
At 0.7430 area it breaks resistance and drops to a low of 0.70225.
But it at 2 points 0.73012 is hit but doesn't break above the first time but he second time it breaks and rises to 0.73364.
We are aiming for the overall long position to 0.7500
I'm new to this so any feedback would be appreciated :). Ascending triangle shape forming that pinches around the previous all time high region. A break out on the upside could see us bull to the 100 mark and beyond gaining more investor attention.
After looking on the daily 4hr chart this pair is clearly on a downtrend, GBP is weakening against most major currencies due to fundamental reasons with Brexit, i believe we are going to see a restest of the support level and 0.236 fib giving us an opportunity to take 100 pips from this trade, I will be looking to enter this after NFP results today.