AUDUSD Short Mid-term (med probability)
Overall June and July ranging markets are expected to continue.
1. DXY mid-term strength is expected as presently in corrective mode and expected.
2. AUDUSD downtrend is expected to resume after the present wave of correction.
3. There is a strong weekly, daily and H4 supply (-OB).
4. Subject to the swing entry pattern, it can provide at mid of daily supply (0.6765) with protective stop at range high i.e. 0.6815
5. targeting the chart lows at 0.6505 ~ RR 5.2
6. Fib retracement method also supports the idea as it presents a retracement in the range of (0.7 - 0.8 levels).
Note: Supposing trend of AUDUSD has changed to upwards, still a retest of low is expected supporting the above idea, in that case, the target need to be reduced.
1. DXY mid-term strength is expected as presently in corrective mode and expected.
2. AUDUSD downtrend is expected to resume after the present wave of correction.
3. There is a strong weekly, daily and H4 supply (-OB).
4. Subject to the swing entry pattern, it can provide at mid of daily supply (0.6765) with protective stop at range high i.e. 0.6815
5. targeting the chart lows at 0.6505 ~ RR 5.2
6. Fib retracement method also supports the idea as it presents a retracement in the range of (0.7 - 0.8 levels).
Note: Supposing trend of AUDUSD has changed to upwards, still a retest of low is expected supporting the above idea, in that case, the target need to be reduced.
ASG
Humility & Discipline.
Humility & Discipline.