Bearish bias on this pair. If we can take out the 118.5 res we should hit the -0.27 fib extension followed by a slight retracement followed by hitting the -0.68 extension.
Capped by the top of the range with a fib confluence. Selling pressure intensified in the last 8 hours after we made the retest of the CTL now looking for the bearish continuation. First stop around 0.722 with further downside potential.
AUD/USD - Going to make a retest of the long term weekly trend-line (thick black line). Heading to the -0.27 Fibonacci.
Prior to short entry, we must see a break in the CTL and a bearish MA crossover to the downside.
EURUSD nicely moving up to test he heavy resistance zone consisting of the 0.236 Fib level,
the top of the channel range, ichimoku cloud and a former resistance now support level.
I will be watching for (prior to taking a short position) a bearish candlestick formation such as a
shooting star, and a crossover by the 20 and 9 day moving average to confirm...
