For this week i will be watching this two significant volume clusters.
First is around 0.8828... There can you see after accumulation strong sell off...
Second one is around 0.8862..
Reasons for short is :
1. Trend down
2. Volume cluster
For more reasons and trading tips for this week watch my FREE video with Weekly ideas .
Price has broken below the uptrend it was moving, and has retraced into a corrective structure to the upper parallel of a downsloping median line. That's a great level to watch for a short setup in a lower timeframe. I will personally use a new median line set but i will aim for the median line of the larger pitchfork. In any case a sell setup at the current level...
On the AUDUSD we can clearly see a triangle forming.
I am expecting one of four things to happen:
1: A breakout to the upside, followed by a direct move up
2. A breakout to the upside, followed by a small move up and then a retracement back down to the trendline. From here the price should bounce and go up again
3: A breakout to the downside, followed by...