Here are some buying areas we should take note. Base the explanation on my chart.
After a bad US Data EU indeed shoot up perforating the high of September. Prices doesn't move in a straight manner. Pullbacks are expected to happen and I see one coming on the 2 possible price areas. 1. The stalling that had happened on the 50-price level and it sits near the .38 Fib retracement. 2. The stalling that had happened on the 1.20500 level...
EURO and SWISS pair is on the verge of testing the highs last January 5 which is near the 50-level. On the 4 our chart, price action is still in consolidation. But as we can see, it is gradually forming some higher lows. And on the 1H Chart, is a clear buildup before the break of the W-pattern.
Even with China's news regarding US Treasuries, it wasn't able to at least perforate the double strong double bottom on the 1D timeframe. Dollar is in fact going to retest again 50-level resistance. HOURLY CHART: In EU's case, It's retesting again the stalling that had happened before the EURO's rise (After the dollar's sudden decline) DAILY CHART: EU is still...
On the 15min TF 50-level is around 30+ pips away if the break of the range is executed. Bulls are fighting to make prices stay above the ema. I'm looking for a pre-breakout to happen or a squeeze within the range barrier and ema. Also refer to the higher time frame charts and see the overall picture of the market.
This is just my view on AUDUSD. My bias on this pair is short until a retracement on found on the daily swing has been completed. (See 1D chart for more details) Bulls are teasing to break the 0.78300 price resistance, but I believe bears are on the look out on this price level too. A bulls and bears skirmish is clearly visible on the 15m chart. Indeed, bulls were...