Waiting to see if price can hold above 1.7800 - 1.7750 support region. If so then i highly favor 1.8000 eventually being hit, However if we get a break below 1.7750 then 1.7600 support would be a key area of support for this pair.
With both the Fed and European Central Bank about to release their Minutes from their latest policy meetings this week, the market will be carefully watching to see whether the statement will hint to any rate cut that would add to the Fed’s 25-basis-point reduction in July or the ECB’s first easing in a long time. Markets are also awaiting Fed...
Hope this idea helps!
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The precious metal has moved over a $100 since the start of the month, bringing about plenty of opportunity for traders. The bulls seem to be exhausting and the bears look ready to put in a day shift. We like gold to go short, a break of $1504 will see us heading to our TP1 of $1492, a break of $1492 will see us approaching the region of $1474. SL is set...
THIS IS MY BIAS ON USD/AUD .
FIRST OF ALL WE HAVE SEEN A BIG BULLISH MOVE ON THIS PAIR FOR AROUND 500 PIPS.
AS HE HAVE BEEN BULLISH FOR MANY DAYS IT NECESSARY FOR PRICE TO RETRACE,
WHERE WE WOULD FALL AGAIN IN THIS WEDGE.
AND IF WE LOOK AT THE TRENDLINE IN THE WEDGE, WE COULD BE TAPPING THIS WITH ONE MORE 3TH BEARISH TOUCH WHAT WOULD RESULT THAT PRICE WOULD GO...
Looks like the pair is within the formation of Bearish BAT on 4 Hourly Charts. Little early to say as B Point yet to be broken. But now the levels are marked and we may expect price to react in the marked PRZ.
fundamental weak AUD, strong CAD...longer term trade, use proper risk management
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