Good confluence between a head and shoulders forming, a counter trendline test and a fib retracement.
Entry: 0.73180 - Bearish breakout of previous bullish trend line - Potential reversal from bullish to bearish below 0.74000, key resistance zone - Retest of the trend line to go short Stop: 0.74050 - Placed above previous high and 0.74000 Target: 0.69200 (+4.5R)
Expect DXY to gain some strength in the first part of the week (100.75 - 101.00). Midterm i think DXY has still some room to drop.
AUD/USD did not play out how we predicted last week! Trump's press conference gave USD a chance to correct and give this pair a push higher to break support and this descending trendline. AUD/USD is currently sitting at key weekly support which price reacted off nicely recently. We will be looking for a pullback to the 50 fib/next support at 0.7350 to form a right...
Short taken on Friday. noticed the 3rd trend line touch, alongside the formation of a tweezer top at the 50% fib level. The MA's have also just crossed indicating downside momentum when you go down to 2H time frame, which i entered off after a counter trend line break. entry @ 0.7318 stop - 0.7370 tp1 -0.7165 tp2 - 0.0750 1:3 risk reward peace !
Fibonacci hit a D at 1.0350 almost to the pip, a new fib has formed. Expecting a move up to 1.0460, where the dollar strength will resume and push down to new lows and to the 161.8% extension at 1.0150