We are deep inside a Monthly SUPPLY/SELL zone with a strong resistance located @ 0.71 thus now is a good time to start to look for a sell signal for a move down to test the newly formed WEEKLY DEMAND/BUY zone starting at the 0.66 area.
What I expect to occur over the next period is maybe a spike up to test the 0.71 the market may spike above it as could be an area where there may be some liquidty, I will wait for my TRFX indicator to give me a signal on a chart between 6hr and daily chart only then will my sell trade to be confimed.
Once in the trade we should get an easy drop down to the 0.68 level which was a previous HIGH in the current uptrend this is the first easy target for the position second target will be the weekly DEMAND/BUY zone this will also be a good area to look to buy this pair again for a move up towards the 0.73 area.
DXY will drop just a little bit more going deeper into its support level giving us that push to the upside if DXY holds that level of support & pushes to the upside then AU, EU, NAS & etc will plunge to the downside. Also the last time price hit this level/area on AU was August 14, 2022 & price dropped a total of 914 pips. I’m selling currently risking 50 pips
TradingShot
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You may be right. This can be the start of a whole new move.
Antb369
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Testing 1-2-3
FOREXN1
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Possible Time to sell :)
basictradingtv
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Keep up the good work mate, like will follow!
Kivondo
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i think its still a buy having corrections. some sell signals might be present but the market is just correcting itself. Take a max of 50 pips at a go. Otherwise your sell might be caught up. check 0.70500 LEVEL. thats the critical level.
Setupsfx_
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Thanks mate! AUDUSD has been tricky ever since dxy gone dead!
staggy67
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.71430 down to .67500 ish
ProjectSyndicate
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appreciate your timely update today
BKTradingAcademy
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Very soon! I’ve been waiting patiently for this one. 😎 Thanks for the analysis!