kate25

AudUsd - trading with pivot points and pivot trends

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
15
My bias is for Aussie to find support on the new monthly pivot. This is the first time in months Aussie will be opening above monthly pivot - last attempt saw gap below on open - it will have a roof of the weekly pivot, but the weekly pivot is higher again this week from last week. There is lots of traffic for price to move up trends and pivot points - plus price came very close to R3 on the weekly this week - the response usually is a gravitation back to pivot point or equal response to S3. Given all that if price finds support on the monthly pivot and closes above the weekly pivot then I would anticipate price to attempt new monthly trend. I will follow with the 8hr pivots.
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