This is what I expect from the AUDUSD this week, great trade potential
Retracing to 38.2 fib level or potentially 50 fib level to extend to 118.500
Already on the rise, there is a small pullback and then extension of long
So this could either be a reversal of trend off the 50 fib level, or it could be a pullback then continuation to the 61.8 fib level. We will have to see if the downward trend line breaks or not
Today, the USD is on a retracement/pullback to 1.34, and will extend back up to 1.35793. Trade is between 1-4 days
Expecting a double bottom at 50 fib level and reversal of long term downtrend
Target is 61.8 fib level, at which point it will reverse to an uptrend