In between those levels traders will get killed handing back profits.
Wait for the obvious levels to be reached and put together confluence for a trade when approaching the levels. 1.85000 we had the very obvious turn upwards previously. Acceleration recently to the upside. 50EMA acting as support.
The quarterly chart we made a higher low form.
Monthly resistance at 1.72000 has broken and is now support most recent swing low, bias.
Weekly showing higher highs and lows, price above 200/50 EMA's..... Weekly mac looks like it may be starting to show a bias. A pull back to the 1.75500 before continuing higher maybe the play here.
- 50EMA acting as support nicely recently,
Strong acceleration to the upside. A possible higher high ( hasn't formed yet but price closed above the most recent daily highs).
A pull back to the 50 or THE PREVIOUS RECENT SWINGS HIGHS WOULD BE A GOOD ENTRY POINT FOR A LONG TRADE. We don't want to get long now as the run is already away, wait for the pul back then enter. If we missed the run to the next level higher so be it. Preserve the capital and enter next time.
con's -- to a long entry now immediately - on display, over bought.
Trade issues now with America affecting the AUD. Market hasn't completely priced in the negatives for respective countries yet.