There is potential to short at the top of this ED channel, a pattern has also been sighted.
is now at overbought level.
Why one might not short :
- EMAs crossing, diverging
- Events happening tomorrow morning in .
1. Employment Change results
2. Unemployment Rate
However, potential 1:4 Risk:Reward if you choose to short on the next candle:
SL 35 pips
TP1 95 pips
TP2 170 pips
I might go with a short if shows a divergence.
For those who shorted, you will be enjoying about 80 pips of profit now.
AU and US news are in my favour.
I will lock all profits very soon, probably at TP1, not too keen on holding my position over the weekend.
AUDUSD has gone above the 50-day EMA after touching the 100-day EMA, AUD seem to be picking up strength, no bearish signals for me to hold my position.
Good enough for me to enjoy the weekend.