Ometrading

Corrective structure formation- AUDUSD

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
After a big bullish impulse last friday, price is on a corrective structure. Now is rejecting 38.2% fibonacci retracement, but we should see it dropping till MA50 aprox(coinciding with 50% or 61.8% fibonacci). Long positiong will be taken at bullish breakout

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