This pair has been retracing for a few days now. I believe that after Wednesday's close, price is very close to reversing. The presentation of an indecision candle on top of a major support and between the 23.6% and 38.2% fib, signifies that momentum is slowing down for bears. I would wait for more bearish activity during following hours, and potentially for...
This pair is very beautifully creating its higher highs. I was initially hesitant to go long as price was up trending however there were some bearish signals such as lack of strong bullish candles. This bullish push was made with weaker candles beneath this resistance. After a retracement, and a re-test of support, the trendline, or daily/weekly support.
The 4H retraced to the 23.6% fib and provided a hammer which is why I wasn't hesitant to sell, even beneath the trendline. Upon the 4H close and hammer. Price immediately progressed bullish to create a strong higher high, broken correction trendline, as well as ADX mixing in to provide confluence. Intraday the 1H timeframe is a clear opportunity to go long on this...
AUDUSD is currently at its lowest point since breaking out of consolidation on last week. This week it may look to re-test the bottom of the range or the neckline of a confirmed double top bearish reversal pattern. However, the case, this pair is overall bearish. The big move will come from a short. I've noticed that its currently trading around the weekly support...
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