Current situation:
- Price is at the bottom of a range on the daily chart
- Price is consolidating on the four-hour chart
Looking ahead:
- Waiting for the price to break on the four-hour chart with a close above 1.0550 to enter long.
- A break and close below 1.04 would mean a failure of the longer term range to hold and continuation of the current downward selling pattern.
Notes:
- On July 4th the RBA will make its cash rate announcement. Price may not alter consolidation until ten.
- Price is at the bottom of a range on the daily chart
- Price is consolidating on the four-hour chart
Looking ahead:
- Waiting for the price to break on the four-hour chart with a close above 1.0550 to enter long.
- A break and close below 1.04 would mean a failure of the longer term range to hold and continuation of the current downward selling pattern.
Notes:
- On July 4th the RBA will make its cash rate announcement. Price may not alter consolidation until ten.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For more analysis, signals, education, and more sign up for Forex Forecast. It's free.
positionforex.my.canva.site/bio-link-site
positionforex.my.canva.site/bio-link-site
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.