Look to long this pair. Price is bullish and is currently doing a corrective pullback into structure support. I am looking for an entry signal at the the highlighted area (61.8 fib level)
Quite a bit of confluence leaning to the downside on AUD/USD. We have the 61.8 fib level which is the highlighted resistance area, and we also have two AB=CD pattern completions at the same level. Everything has been illustrated. Target is (0.72100)
Possible buy and sell zones have been highlighted. Wait for proper signals prior to entry.
Look to short this pair, illustration on chart. Wait for a reversal signal prior to entry.
Allow the market to pullback and look to buy in the reversal zone. Wait for a 1 Hr bullish candle to form prior to entry. Place stop loss 10 pip under the low and look to Target up into the 0.94000 resistance area. Cheers!
Price looks like it will continue to move downwards into the "D" completion. That is where I will be looking for "Long" signals to take this up to the (813.00) level. Then possible shorts from that area. Cheers.
AB=CD completion. The market is putting in a corrective move. My bias is still long term short, but this is a nice long setup.
Possible sell at or around 103.50 area. Possible targets can be down at 80.00 support area.