Reached the top of the channel, in which it has been trading for 10 months. it will either break it with a big impulse, or it will be forced back down, maybe even back to 0.72 area again?
Your thoughs are appriciated.
Kommentar
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Resistance area has been confirmed so far.
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Breakout and down move initiated.
Kommentare
LaiptaiCervinskas
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US job market indicators are glowing although Australian latest job data was more upsetting. Additionally, we just had FED interest rate hike - no one was expecting that at the beginning of March especially after about 3 months passed, after latest FED hike. So fundamental data is sufficient to push the trend to the down side. Why it is not moving? Maybe big players are massing around. Sooner or later we will get one last move to the down side.
Talking about technical analysis - we have range and those have 5 moves inside. We only have 4 so one last move to say good bye and we will see a massive move to the upside.
FX-Ricardo
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It has fallen over 100 pips and now it's stuck at prior-resistance-now-support level around 0,7603. What are your thoughts guys?
FX-Ricardo
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For the moment it can still go in both directions. Uptrend is intact. if the hourly breaks the 20SMA, I believe we got ourselves a nice trade. let's wait and see what the RBA has prepared for us.
KhanBaba786
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Chuma chuma dai chuma
LaiptaiCervinskas
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@LaiptaiCervinskas, AU is in long term up trend, all asian pairs are trending up. All my indicators are suggesting the same thing too. I don't understand why there's this thinking about shorting the pair. There seems to be no reason to do so whatsoever besides some shady economic data you might've collected off the internet.
Talking about technical analysis - we have range and those have 5 moves inside. We only have 4 so one last move to say good bye and we will see a massive move to the upside.