AUD is strong similar to NZD.
My bias is long, but if JPY gain strength and price breaks the 4-hour trend then It could make a deeper correction/pullback before make a move further up.
I will be looking for M and W formations near the 81.00 price area. Preferably a W-formation ( Double Bottom ) for continuation. Plus a rejection of the 50 EMA would make a perfect entry, it's rejected it twice already.
Factors:
AUD Stronger than JPY
Looking to continue with the trend, but need a better price.
Price line on TDI is above the 50 level ( Market Sentiment )
There is no divergence or reversal pattern YET.
Price also above the 50 EMA
My bias is long, but if JPY gain strength and price breaks the 4-hour trend then It could make a deeper correction/pullback before make a move further up.
I will be looking for M and W formations near the 81.00 price area. Preferably a W-formation ( Double Bottom ) for continuation. Plus a rejection of the 50 EMA would make a perfect entry, it's rejected it twice already.
Factors:
AUD Stronger than JPY
Looking to continue with the trend, but need a better price.
Price line on TDI is above the 50 level ( Market Sentiment )
There is no divergence or reversal pattern YET.
Price also above the 50 EMA
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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.