What the market is currently suggesting (what is happening in the market):
Market structure is suggesting price to go lower as it’s forming LH LL LH LL, as well as the current momentum is, yesterday 8:30pm major news created a bearish impulsive move, and it seems like price is now forming a corrective pullback. It might seems like price has now done the pullback and continue lower from here.
Potential Scenario (what can happen in the near future):
However, to me price can reverse from here anytime and go after the BSL (EQHs), therefore AU is still consider 2-sided bias, especially when it tried to put in a new LL but FAILED, that is a sign for price to go higher.
Be aware of NFP ahead, we might see the next directional bias being confirmed when the news release.
Market structure is suggesting price to go lower as it’s forming LH LL LH LL, as well as the current momentum is, yesterday 8:30pm major news created a bearish impulsive move, and it seems like price is now forming a corrective pullback. It might seems like price has now done the pullback and continue lower from here.
Potential Scenario (what can happen in the near future):
However, to me price can reverse from here anytime and go after the BSL (EQHs), therefore AU is still consider 2-sided bias, especially when it tried to put in a new LL but FAILED, that is a sign for price to go higher.
Be aware of NFP ahead, we might see the next directional bias being confirmed when the news release.