Short against the high, Ill be happy with anywhere in the target box. Once it gets to that area Ill start watching for candles and possibly a retouch of the trend line as an exit.
All the signs are saying short at the moment. Nice wedge with strong divergences. On the daily no less. However price is at a strong support at the moment, so its best to let it clear this level. Furthermore dont look to short on a break, have patience and short when the price action retouches the underside of the wedge. This often can lead to a new high so...
Granted this IS a monthly chart so very long term, however the EURAUD has come to major resistance. I would expect a nice fall at some point. Could have a safe stop well above 1.55 and target the 1.50 area for starters
The EURO could be temporarily topped here or it could meander around wiggling its way up for another couple hundred pips to maybe 1.39-40 area. The overall thought here is that the EURO will make a larger move down soon. The arrow exaggerates my thoughts a little, I would like to see 1.30 first. This is a weekly chart so this can take a while to play out. ...
Looks like AUD is gonna have a hard time finding support until this highlighted square. Especially if it doesnt bounce right now. We have tons of bullish divergence across all time frames, but the fundis are winning right now. RBA says .8500 would be a better spot. I think we can see a solid bounce in this .8850 area. Good luck
Even though the GU has broken south out of the larger channel it seems to be making a possible bull flag. If this is a bull flag I would like to see price work its way down to the 1.6250 area, which is former double top resistance turned support. I would like to long around that area looking for another move into the 161.8 of the entire move around 1.6800. I...
A couple of options here. A possible Head and Shoulders...its not pretty but Ive seen worse. In my opinion its the obscure ones that have a better chance of playing out. We also have the potential triangle which could push us higher. This is why its imperative to wait for a solid break and retest of the pattern. Id like a long off the bottom trend...