A) Lower Lows
B) Market initially over reacted to increase in interest rate and hawkish tone by the FED which was bound to reverse.
C) Gold has recovered during the period
D) 13 year Peak is a defining moment for price trajectories when technical and fundamentals combined similar to this case.
AUD/USD has a strong relationship with Dollar & Gold,therefore,depending on the extent of the dollar correction, we can see a short opportunity in the making. If dollar finds a support which needs to be confirmed by Friday close New York session.
We have seen an extended rally.
Post rally the price has made numerous attempts to cross the resistance region of 123 - 124 but has failed to do so; which decreases the possibility of a price breaking the region and setting a new resistance region in the near future.
Based on the price action if it crosses 121.500 with a momentum we can think about entering in...
For this trade to hold correct it is crucial that the Dec 15 lows do not get penetrated. As we can see from the chart, this basically classified as a yearly cycle low which since 2013 has always taken place at the end of each calendar year. If these lows hold, which i expect they will, this will mean that we have finally broken pattern of lower lows since...