awaiting test of weekly demand levels on 50% fibs for active longs to daily supply levels and above to monthly supply levels.
currently bullish on AUDUSD.. DXY showing sings of bearish at level supply levels.... longs are being held to weekly major supply levels. before we might see some active corrective structure...
price respected harmonic pattern, rejection on fib 74.8 levels on retracement of weekly trend line break out. shorting to weekly demand levels
longs due to price reversals at major weekly demand zones... targets to the near term supply zones on weekly time frames..
Retracements to weekly consolidated demand levels over the ascending trend line. targets set for 8370 & 8750 levels confluent with weekly migrant supple zones... lets see how the next few weeks will play out.
Guess the whole world though this was previously a head and shoulders patters, but with the AUD currency taking a hit across the board this sent all X/AUD pairs to the roof... we are not back at historic supple levels where I believe we might see a test of time again. with price doing an inverse reversal back to these levels lying up with fib sequence of 23% I...
anticipating a reversal at this key level for potential inverse right shoulder before push up. will wait for break outs on lower time frames before shooting lower.... at this stage is a waiting game.
currently awning price to hit supply levels on the weekly potential right shoulder formation where we will see some retracement. sell orders will be placed around those levels with targets at daily demand retest areas.
Inverse weekly h/s price heading to neck line on supply levels. sell orders places at supple levels for price to retrace to 61.6% levels then we will see an overall break out from the weekly ascending triangle flag but thats later months down the line but for now I see a sell heading to the form inverse right shoulder.
Patiently waiting for the right time. need a little push lower. considering dollar 10 year yield on the rise which affects all X/USD pairs. NZD is however under enormous pressure lately. for now patience