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Patience

AUDUSD 1,2,3SIMPLE 1.2.3 If this plays out then we will see this possibly come into form REMEMBER LEVELS DO NOT HAVE TO HIT EXACTLY SO PROPER RISK MANAGEMENT IS KEY On the topside, traders seem to be respecting the old trendline that connected highs from November 27 and December 3, then became a support on December 14. Today, in the Asian session, the price traded above and below the trendline before falling to the session lows. The rebound is so far staying below that line currently at 0.75415. A move above should be more bullish lease intraday. Like a number of pairs, the low to high trading range for the AUDUSD is only 39 pips today. The 22 day average (around a month of trading) is 58. So there is room to extend should there be a break. The bias would be to wait OR sell the pair to a stronger level of support then to take it longer to higher levels listed above
Short
by MENINACTIONLLC
EU Potential Long Position Price is moving within an ascending channel which is showing strong rejection of the support and resistance of the channel, alongside two key areas of resistance illusrated by the purple areas of the chart. After a spike in price on the 10th of September, illusrated by the 20EMA crossing the 200EMA in an upwards momentum. Since this price movement, price has been fluctuating in a narrow range of two key resistance levels. It is likely that after this consolidation price will come down to test the lower level of resistance before making a strong bullish movement (illusrated by the red arrows) or price may become bullish and retest the above resistance level before making new HH's. Patience will be key to profiting from one of these two potential set ups.
Long
by Tical1