AUDUSD---- FXCM CHART
QUARTERLY AND MONTHLY CHARTS HAVE A LONG TERM UPWARDS TREND LINE SUPPORTING PRICE.
WAITING FOR THE 50 EMA ON THE WEEKLY TO ACT AS DYNAMIC RESISTANCE AND MOVE PRICE LOWER TOWARDS THE ULTIMATE ENTRY POINT OF 0.71500 AUD.
OUR WEEKLY UPWARDS CHANNEL HAS BROKEN TO THE DOWN SIDE AS WELL.
IF THE WEEKLY CHART CAN INFLUENCE PRICE DOWN TO THE 0.71500, WE GET THE THREE HIGHER TIME FRAMES ALIGNING AT OUR LONG TERM UPWARDS TREND LINE HOPEFULLY BRING ABOUT A MOVE TO THE UP SIDE.
AT LEAST A MOVE THE WOULD GET US BACK TO THE 80 CENT LEVEL ON THE QUARTERLY, WHICH WOULD BE A DRAW OUT PROCESS, BUT I THINK DOABLE.
WATCH THIS ONE...
0.71500 IS WHAT WE ARE WAITING FOR, TO GO LONG
QUARTERLY AND MONTHLY CHARTS HAVE A LONG TERM UPWARDS TREND LINE SUPPORTING PRICE.
WAITING FOR THE 50 EMA ON THE WEEKLY TO ACT AS DYNAMIC RESISTANCE AND MOVE PRICE LOWER TOWARDS THE ULTIMATE ENTRY POINT OF 0.71500 AUD.
OUR WEEKLY UPWARDS CHANNEL HAS BROKEN TO THE DOWN SIDE AS WELL.
IF THE WEEKLY CHART CAN INFLUENCE PRICE DOWN TO THE 0.71500, WE GET THE THREE HIGHER TIME FRAMES ALIGNING AT OUR LONG TERM UPWARDS TREND LINE HOPEFULLY BRING ABOUT A MOVE TO THE UP SIDE.
AT LEAST A MOVE THE WOULD GET US BACK TO THE 80 CENT LEVEL ON THE QUARTERLY, WHICH WOULD BE A DRAW OUT PROCESS, BUT I THINK DOABLE.
WATCH THIS ONE...
0.71500 IS WHAT WE ARE WAITING FOR, TO GO LONG