AUDUSD has made a fakeout above the resistance zone but soon it turned back bouncing from the bearish trendline pointed out by the red arrow in circle.
So, I am fan of the idea that it will retrace approximately to 0.5 Fibonacci level of the recently uptrend and give a good buy opportunity.
Otherwise, in case of a visit to the the resitance area there is the possibility to breakout this time - retest and continue higher.
Bearish if it breaks with strong bearish candle the 0.618 Fib area but with limited power.
GL!
So, I am fan of the idea that it will retrace approximately to 0.5 Fibonacci level of the recently uptrend and give a good buy opportunity.
Otherwise, in case of a visit to the the resitance area there is the possibility to breakout this time - retest and continue higher.
Bearish if it breaks with strong bearish candle the 0.618 Fib area but with limited power.
GL!
Comment:
Price is getting closer to long entry points.