The moving averages has just crossed over on the 4H timeframe on EJ, and we held the psychological level 124.500 which also acts as support, waiting for a retest of 124.500 on the lower timeframes to go long back up to 125.500 and maybe further. Nice 1:3 risk reward ratio on this trade.
If the daily candle closes below the daily support, i anticipate aussie further to the downside. The HH / HL trend seems to have stopped after 3 HH's. The AUDUSD sentiment will probably be very bullish at this point, which wil increase the chances of a short to 0.71000. Price has also penetrated the ascending trend line. I am going to open a short of the daily...
