Analysis Combination: Monthly - Weekly - Daily
Monthly: Downtrend, but inside a non-fresh monthly demand, so no short till demand zone is gone.
Weekly: Downtrend, if potential WK supply zone removes opposing WK demand zone, which is also the Monthly demand zone. We should find entry on daily to go short.
Monthly: Bearish consolidation, supply in control
Weekly: Bullish consolidation
There's still distance before we get into weekly demand.
If this short is not triggered, we should wait till weekly turn into downtrend.
Sell Limit @ 0.73500
Stop Loss @ 0.74150
Take Profit @ 0.71550
RBA‘s rate cut and dovish tone has weakened AUD.
Dudley's hawkish remark gave USD some strength.
The price just came out from monthly supply zone.
We are high in the curve.
And daily is clearly a downtrend.
Look for fresh nested zone to go long.
Perhaps this one has already missed the entry by a few pips.
Buy Limit @ 0.6710
Stop Loss @ 0.6655
Take Profit @ 0.6875