AUDUSD Outlook on the Daily 25/12/16
Firstly Happy Christmas where ever you are hope you are with loved ones and having a merry time.
As all the Excitement is over now a bit of time to do some Tekkers.
So one of my Goals for the coming year is to really get my tekkers on point and be a lot more methodical in my approach.
We have seen this pair in a very bearish trend for the last few months. Looking at my Key Levels we have come down into a weekly level, this also lines up with the 1.27 level on the Fib Extension and also the 1.618 area of a fib inversion. RSI is down in the oversold area, another sign that this pair could be due a pull back.
Where could the pair move?
WE have had the X to A, A to B and B to C moves of a possible cypher, D Completion would put us up at the 0.76453 level which has acted as a previous level of resistance on the Daily.
If we look at a Fib retracement on the overall move the 382 and 618 levels fall at lots of previous structure.
One to watch on the lower time frames for entries and short term targets.
As all the Excitement is over now a bit of time to do some Tekkers.
So one of my Goals for the coming year is to really get my tekkers on point and be a lot more methodical in my approach.
We have seen this pair in a very bearish trend for the last few months. Looking at my Key Levels we have come down into a weekly level, this also lines up with the 1.27 level on the Fib Extension and also the 1.618 area of a fib inversion. RSI is down in the oversold area, another sign that this pair could be due a pull back.
Where could the pair move?
WE have had the X to A, A to B and B to C moves of a possible cypher, D Completion would put us up at the 0.76453 level which has acted as a previous level of resistance on the Daily.
If we look at a Fib retracement on the overall move the 382 and 618 levels fall at lots of previous structure.
One to watch on the lower time frames for entries and short term targets.
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