400 Pips to go?
Which way will it go?
Bounce or Break?
Which way & Why?
WHERE WILL IT GO?
Which way & why?
Break or Bounce?
Nice R/R here on AUDUSD. Not a Pair i would usually view, but backtesting is backtesting. Lets see how it works out.
Pair is currently in a bullish channel. Retest of the previous resistance, channel support & 0.618 retracemnet can see prices extend to 1.95500.
GBPUSD is on a clear uptrend. Breakout of the decending treadline will take price higher to 1.34 / 1.36 (favourably)
Daily bullish Engulfing off of a strong demand zone & DXY's weakness gives aplenty cues to its near term direction.
A break and retest of the bullish treadline & Previous Support, signifies more downward movement on EURNZD. A 4H doji candlestick on said retest adds confluence for the short.