FX:AUDUSD Australian Dollar/U.S. Dollar
Thought I'd share what I'll be looking for in the next few days. On the AUDUSD theres 2 potential advanced patterns both . One a and the other a . What I like about this opportunity is that both patterns should complete around the same level (depending on what ratios you use). The previous that completed was a success and all 3 of these patterns all formed at the same X level at .74367. Check your ratios to make sure this works with your trading style and hopefully this will complete and we can take some profits. As always looking for the 1st target at .382 and the second .618. Stops should go above the X level according to how your plan. Thanks
This is what I have so far as I haven't been actively trading this pair, waiting to see some more movement. Theres a broadening wedge forming to the upside as well as the daily trend that is right up against it. If PA breaks the daily trend I will be looking to go long. If it continues to bounce off the trend then short. As we know this pair has been in a downtrend for a while so who's to say wether it will continue going down or reverse. As far as the interest rate decision coming I cannot speak to much on it. Haven't seen any major movement from the previous one.