Basic charting principles. Trend line break along with retest. I'll be looking for a breakout of the support that to go short. Targets for me will be at 0.68986
AUD/USD - Watching the 4hr chart for a break out above the last lower high made. I was tempted to buy this yesterday on the retest of the support however I'd feel more comfortable waiting for bullish price action to come into play. Looking to take targets around 0.73700 mark.
When it comes to the gold I have a very bearish bias on it. Seeing a triple top at 1400 area as well as hitting a weekly resistance trend-line then a further push down from there, I can't help but feel the need to start looking for short trader in the yellow metal. For me, there are a lot more reasons to start looking for shorts in gold rather then long positions.
After we've seen NZDCHF hit a major weekly trend-line and a strong rejection off of it along with a H&S formation, I'm deciding that this bullish run has come to an end... for now.. I'll be looking for a breakout of the neckline and looking to take profits at the 0.618
So far we've seen some bullish moves in the DXY and as we see now we've completed a inverse H&S pattern as well as breaking a neckline and coming into retest as I type this... I'll be waiting for further conformation to enter but I'm looking to go long.
