AUD>USD 05/21-06/30/17 Idea
From a technical review of the weekly time frame, we anticipate a strong rally pending upcoming fundamental announcements.
Major announcements beginning 05/24 and 05/26, with more to follow next week. Anticipating a stable week opening and increased volatility near the week's close. Friday may determine overall direction for the next 3-6 weeks, Consolidation followed by breakout probable.
There is always the possibility that the market may test the D extension and/or my correctness of the D placement.
No confirmation of the daily time frame is evident to me at this time, still inside the uptrend channel inside the larger downtrend channel . Indecisive doji candle may appear after Sunday's close, strictly my anticipation of course.
Monitor smaller time frames for intraday trade opportunities entry or exit
* My strategies are not intended as advice, merely educational. our account size, goals, risk,reward and trading styles are unlikely the same.*
Currently neutral yet eager to engage the Long idea
Good Luck to all. Have a great week
Major announcements beginning 05/24 and 05/26, with more to follow next week. Anticipating a stable week opening and increased volatility near the week's close. Friday may determine overall direction for the next 3-6 weeks, Consolidation followed by breakout probable.
There is always the possibility that the market may test the D extension and/or my correctness of the D placement.
No confirmation of the daily time frame is evident to me at this time, still inside the uptrend channel inside the larger downtrend channel . Indecisive doji candle may appear after Sunday's close, strictly my anticipation of course.
Monitor smaller time frames for intraday trade opportunities entry or exit
* My strategies are not intended as advice, merely educational. our account size, goals, risk,reward and trading styles are unlikely the same.*
Currently neutral yet eager to engage the Long idea
Good Luck to all. Have a great week
Note
Closing in on our long term target.Note
Price broke twelve month resistance level. Long idea continuation
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.
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.