. There is a possibility of temporary retracement to suggested support line (0.6700). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. AUDCHF is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
Momentum looks to be slowing on AUDUSD with price trying to roll over at this level.
1hr timeframe made a nice lower high and resistance at 0.68850 has held strong again. Multiple daily wick rejection candles formed last week.
If this bottom TL breaks then new lower lows will be made.
Two possible roots to 0.94
Either get a retest of previous structure
or we will just consolidate in and around a previous consolidation zone and then move higher.
either way i'll be looking to trade the break of the consolidation zone
While the price is above the support 1.0530, resumption of uptrend is expected.
We make sure when the resistance at 1.0730 breaks.
If the support at 1.0530 is broken, the short-term forecast -resumption of uptrend- will be invalid.
We will close our open trades, if the Midterm level 1.0530 is broken.
The ascending flag...