Bears are gunning for 91 zone coinciding with 50/61.8 fib. 61.8 rejections would be ideal to fulfill the next leg to 94.5 and beyond
Daily inside bar @ res after fluid ascension indicates a pullback is necessary 38.2 is an ideal entry for long
shorts to 1310 after a pullback to 50% fib could be on the cards
Potential for price to consolidate at 92 before a 80-100 pip decline creating a new HL off the 38.2 before further ascension
Potential for some further rejection at 1.24 creating a h&s pattern with tp at neckline (200pips)
Potential for a 3rd retest of the support zone creating a new HL before ascent
After a pretty fluid ascent GA has finally had a cooling off period discreetly making HL in the process Potential for this to continue to the upside
Price is respecting 61.8 fib currently with profit taking at the key level of resistance We are creating consistent hh hl since oct 2016 so a favoured break above to continue pattern however potential for retest of 150
Pullback anticipated Further decline expected at retracement levels / previous high W formation at support indicating a potential bullish expectancy
Audjpy bulls in play wait for pullback and profit taking to cease before continued ascension
If we're able to come into buy zone this is a substantial r:r potential setup
Coming into our kill zone for another retest of the 61.8 perhaps previous high too I reckon this candle will spike and shorts will ensue enjoy pips galore
Beautiful set up today on EUR AUD make some pips guys Expecting a double top to form at 1.62 before perhaps a further decline however thats almost 180 pips away from fruition Consecutive rejections from 61.8 - money just waiting to be picked up