A nice close below 1.1045 should give a good ride down to 1.1000 region
Testing the highs again?
H4 flow is still down. Is this the end of the retracement. Continuation of down flow?
playing a tight range between 0.7570 to 0.7670
Entered trade around 0.7600
Let's set it up
Looks like the pair is consolidating, i.e. chances for a higher retracement might be possible. Long to higher level before looking for short
Got to wait for next few hours for market to decide if it's time
First target 1.0900
Potential strengthening of USD, real strong
cautious on the long side, very short term view
Shall assume the possibility of CD leg is there. In the middle of leg right now, shall stay on Long for time being until market tell me otherwise
Not saying that AUD would gain strength significantly, but a short term to test the highs look promising. Since 0.7700 is the resistance, hoping for price to retrace closer to 0.7600 again before entering into a long position
Consolidate 2 weeks. Potential break of trendline and targeting 1.3100 then evaluate further if 1.3200 is potential
Resistance at 0.7700
Potential resistance at 0.7700
Waiting for a drop to below 0.7640 for confirmation of setup. Then targeting move below 0.7600
Support at 100.00
A close above 1.2985 is a must over the next couple of hours. Else, would invalidate the trade.
Strategy: H1 Inverted H&S