This pair has been on a volatile bull run since late March and it is very extended from the 20 ema. In addition, price is approach LT resistance level, which previous acted as a strong support level turned resistance. Trade Idea: Sell the LT resistance level, with the target as the previous support level where the 20 EMA is approaching.
-Price has failed to maintain momentum going lower -This has created a FB of level and break out pressure is building on lower TFs
SPX500 - False Break - Short - Continuation of bear market.
AUDUSD is looking to push higher once again. We have broke above and are retesting HTF structure that is confluent with out Trendline. AUDUSD has one more push up before continuing its long term downtrend.
-Trendline confluent with with support and Fib level -Above 200MA -RSI pointing up -Pinbar candle
-Fib level confluent with resistance. -RSI oversold -Downtrend continuation
Pull back into support that is confluent with 38.2 and then uptrend continuation
-In support area, which is confluent with 786 Fib. -Bullish engulfing candle. -RSI divergence.