the pair finished a complex corrective wave labeled as B near 76.4 % Fibo retracement
we are looking to enter long positions from current levels to finish final wave C near 0.9300 level and above.
risk to reward ratio is perfect for this trade.
good luck
after the daily engulfing pattern we wait for a retracement to finish the inverse head and shoulders pattern
that will target 61.8 or 76.4 % fibo level from last low to last high scored.
risk to reward ratio is great we might look for another short from above since the weekly chart looks weak.
the Aussie is completing wave c which should be up in 5 waves targeting 100% fibo expansion.
d'ont forget that gold is giving a bullish signal and the Aussie dollar is named the commodity currency.
stop loss is near its a closing below the trend line drawn on chart.
good luck!!!
