A good opportunity to short this pair for the short term with the following confluences -
1) We have an RSI divergence
2) We have a technical wedge pattern
3) We have a completed 3rd wave structure between 161.8% and 200% extension
1) We have an RSI divergence
2) We have a technical wedge pattern
3) We have a completed 3rd wave structure between 161.8% and 200% extension
Note
The impulsive fall this moving fuelled by the positive AUD GDP is giving us more confirmation that we might see this pair reach for the 1.4732 area.However, price might see some support around the 1.4920 area.
Shift your stops to protect your trade.
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.