Well she looked bullish earlier however she start loosing momentum, and currently seems to be trading inside a bull flag or bull trap zone.
In my view, this price should first technically go down with respect to fundamentals. So, if we see no change in the cash rate and interest rate of AUD remains @ 1.5%, in that case AUD/USD should technically go down first. I would say like 50pips.
So it's a x100 trade (25% risk trade) as currently price trading around the 61.8 fib ratio==she will attract sellers==hence next choppy wave looks bearish :).
Conclusion
Sell @ market @ 0.7584
TP @ 0.7500
SL @ 0.7684
Later i expect a bullish three drive point formation around 0.7477 for that you can use x50 (12% risk)
for long @ 0.7477 with a SL of 0.7277 and TP of 0.7677. However that will later depend on U.S interest rate decision on 21st of September :)
Good luck
In my view, this price should first technically go down with respect to fundamentals. So, if we see no change in the cash rate and interest rate of AUD remains @ 1.5%, in that case AUD/USD should technically go down first. I would say like 50pips.
So it's a x100 trade (25% risk trade) as currently price trading around the 61.8 fib ratio==she will attract sellers==hence next choppy wave looks bearish :).
Conclusion
Sell @ market @ 0.7584
TP @ 0.7500
SL @ 0.7684
Later i expect a bullish three drive point formation around 0.7477 for that you can use x50 (12% risk)
for long @ 0.7477 with a SL of 0.7277 and TP of 0.7677. However that will later depend on U.S interest rate decision on 21st of September :)
Good luck
Comment:
Comment:
New structure identified in GBP/AUD
Trade closed manually