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May 24, 2015 1:11 PM

AUD/USD - DAILY 500 PIPS Long

Australian Dollar/U.S. DollarFXCM

Description

Looking at this pair we can see on the Weekly TF we are starting a Fibonacci.
Dropping down to the Daily TF we can see we have a Bullish Fibonacci which is also in line with the making a retracement for the Weekly Fibonacci.
I expect a touch of the 61.8% Daily Fib level, before watching for a reversal to the 0.82910 level for the Weekly Fib.
The 61.8% bounce is also in line with the TL break and the 2nd bounce of TL.
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