AUDUSD to Distribute Shorts?
Howdy, howdy!
Moving on from this week’s price action, we can clearly see that price has found support at 0.65848 and not the 0.65777 level we anticipated earlier this week (pretty close 😊).
Anyway, what can we expect this coming week?
1. Well, for one, we still haven’t closed above the 0.67700 level on the daily time-frame (we have retested it again though) and honestly, I don’t think we have to close above it this coming week.
For the coming week a touch at the 0.68000 level is enough for us to see some reversal signs.
2. Price looks to be creating some Wyckoff Distribution Schematics on the hourly time-frame and we are currently expecting the UT of Phase B.
3. Some short-term buys at the current SOW level can be expected.
And yeah, that's pretty much it.
Moving on from this week’s price action, we can clearly see that price has found support at 0.65848 and not the 0.65777 level we anticipated earlier this week (pretty close 😊).
Anyway, what can we expect this coming week?
1. Well, for one, we still haven’t closed above the 0.67700 level on the daily time-frame (we have retested it again though) and honestly, I don’t think we have to close above it this coming week.
For the coming week a touch at the 0.68000 level is enough for us to see some reversal signs.
2. Price looks to be creating some Wyckoff Distribution Schematics on the hourly time-frame and we are currently expecting the UT of Phase B.
3. Some short-term buys at the current SOW level can be expected.
And yeah, that's pretty much it.
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