In yesterday's analysis, I expected AU to have further continuation towards the upside, which was exactly what the market performed. In today's trading session, I will be cautious of potential pullback due to the current over-stretched condition. In this scenario, as there's no clear static S&R zone to guide my long entries, I will be using the 18 & 50ema as dynamic supports for dip buys. If there's sudden selling pressure in the market that could expect a re-test of 0.7818 support zone, but personally I am not expecting such a deep pullback. Stay reactive.
Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Comment:
Previous analysis
