On the higher time frame, prices are testing key resistance and we could be seeing limited upside here. On the H1 time frame, a pullback to test the support area at 0.7420, in line with the 100% Fibonacci extension, 38.2% Fibonacci retracement provides an opportunity to play the bounce to our resistance target at 0.74800. This resistance target lines up with the...
Deeper pullback towards fib 61.8. Confluence Breakout retest previously broken trendline D1 key support Area of value with support zone at h4 and ascending channel lower trendline. Close below fib 61.8 buy setup would be invalidated.
Approaching daily trend line support. Support around 0.6834 fxstreet daily pivot point. Support at Daily EMA 50.
I see that this move is probably another move up if we continue to hold .6900 Right now we are holding above the red ribbon MA's which is acting as support. At .66 to .67 this looked like bearish consolidation but as we continued in time we got more and more bullish momentum until we broke .6800 and found support 50 pips higher. If price fails to hold red...
I have to apologize again that I cant write much for details. I'm literally walking out the door. All the set up details are in the post. This could be another one for next week as I had already expected audusd to test near entry on this trade.