Price is camped out on the big round number of 1.6000 ~ We are also at the 127% extension, Divergent RSI and former open Institutional positions closed ~ Looking for a bounce here as liquidity picks up in the markets.
Aussie is overextended across the board, here we are looking at massive RSI Divergence, Breakdown out of an ascending wedge, throwover line, and a push into an IPA area to close out positioning before heading lower, this has all the makeups of a great trade!
Currently in a position here, looking for rallies to sell ~ AN is losing it's steam and I think we will see another retracement lower now that we are back in side Trendline ~ Couple that with the Blow Off Top Rally in AUDUSD and this could pan out as a very nice trade if we see some incoming Aussie weakness
We've made a nice Liquidity Pool here, with Price Retesting Previous Lows, Looking for one Push lower and then a move back to 1890 ~ That is IFFFFF this liquidity Pool holds. Look for Stop Hunts around 1872.50