Deep retracement within this current TR. Volume price analysis suggest manipulation as price is rising but demand volume is declining, Either supply is deeply diminished allowing ease of movement or is this slow profit taking by larger interest.
In a bullish scenario price creates momentum to push, close, and maintain above .64080. In what my opinion is more favorable based on market conditions, price takes out one of the previous highs in this range near .64000 where liquidity rest and resumes the htf downtrend. Catalyst being AUD unemployment rates and Fed Powell Speech, FOMO would likely induce a buy trap / false breakout.
In a bullish scenario price creates momentum to push, close, and maintain above .64080. In what my opinion is more favorable based on market conditions, price takes out one of the previous highs in this range near .64000 where liquidity rest and resumes the htf downtrend. Catalyst being AUD unemployment rates and Fed Powell Speech, FOMO would likely induce a buy trap / false breakout.
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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.