I do believe it might be the bottom also think it may take some time to consolidate here ( week, month or maybe two months ? ) but if thats the case better alcoin days are coming. Looks like it might be good time to start accumulate ...
Bullish scenario will be cancelled with two consecutive daily close below 0,0185
Looks like temporary dip been created so market may want to looks for some stops to the upside.
I would like to join that journey by trying to buy dips down towards 1230 and below with tight stop under Friday low with 1,1280/1290 as first possible target
From the daily chart perspective bulls got the chance to try to move back at least towards 1,0550
RBNZ dovish, so upcoming RBA if neutral stance should be enough
US China trade war
AUD Annual Budget Release
Buying dips towards 1,0380/50 with stops below 0340. First target around 1,0550.
Bulls got huge problem to take out 1,33 for good, sellers are very active and its not different this time
So retest of 3295/3305 as selling opps, possible target s visible on the chart, stop above 14 GL
Bulls trying to hold above 1,13 and thats positive development.
Daily close above may open 1,1450/1550 ( levels close to the top of the channel )
On the other hand daily close below 1,13 will cancel bullish scenario and may expose 1,12 ahead of psychological 1,10
Overall im still AUD bear but to be honest I do respect current PA and defense of 0,7
So, if I cant move the mkt will try to join ( and then will look to sell from higher lvls ;) )
This bullish scenario cancelation iwth close below 6980 which may expose 68
We have seen whole day profit taking last Friday and that does not look good from bears perspective.
Of course bulls need to close day above pre ECB breakdown ( in that case 1,10 still possible )
But Im not going to be surprise if we see higher levels from here, based on possible demand on weekly chart
As long as bulls are able to hold 1,8450 on daily basis we may see 1,90 and even 2,00 relatively quickly. I would like to buy pullback towards 1,8525/8475 with 1,90 as first target.
Two conscutive daily close below 8450 will cancel this bullish scenario.