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WAITING THE CONDITION AND BUY TO TARGET
AUDGBP BUY MARKET
AUDGBP upward Potential!
In general I'm kind of sceptical to the AUD right now. The economy is in a dubious situation, employment and mortgages are not uplifting. But let's not worry about this right now!
This is a mean-reversion trade setup, with AUD bouncing for the edge of its range. Price action has been forming a wedge for a while now, so breakout might come in the next week or two, ...
Here's how currencies are looking on the weekly TF:
EUR Falling hard
GBP Falling somewhat
AUD Starting to rise
NZD Falling and starting to go sideways
USD Rising hard
Sell EUR against AUD, USD, JPY, CHF
Sell GBP against AUD, USD, JPY, CHF
Buy AUD against EUR,GBP
Buy NZD against EUR,GBP (risky)
Buy USD against EUR, ...
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After Head and shoulders pattern and the incoming retest of the neckline, we're waiting for the reverse....and we'll be ready to catch all those pips!!! There are 2 possible targets...
buy @ gap area
Look at the green box for an short entry!
Possibilities to get involved:
Candle Stick Formation
This pattern comes right now into Play!
Look at the green box for an resonable entry!
Look for an resonable entry for instance a Double Bottom
Potential Cypher pattern. Look at the green box for an short entry!
It could be an nice A-B-C-D pattern! Long
Expecting price to follow ABC correction and fall to the support zone/trend line.