This has made a good retrace, I would like to see it touch 0.5 Fibonacci ideally before dropping. MACD and EMA's have this on the verge of being bullish on this timeframe so I want to see these cross back lower before entering a trade. If they do not then this could continue higher to the next resistance level before dropping.
I have set TP just below the...
The price brokeout of a 5 - months rectangular consolidation (range). The price is a approaching a predicted ascending channel resistance + trend based fibonacci extension level (1). Possible price action pattern indicated.
For more than 2 months now, EurAud is trading in a range with a base on 1.61 zone and a top at 1.65.
Now the pair is approaching the low of the range and I expect a rebound from here.
I'm looking for a signal to buy in this zone for 1.64 target.
Interim resistance is at 1.6250