AU looking like its coming down, RBA interest rate decision in 4 hours which will most likely be dovish as it has the last 2 years.
here we had a ascending wedge which was broken and had a clean re test. we are now 1 leg down and are currently pulling back. price is reacting in between the golden pocket of 61.8 and 71 - the fib reversal zone. Potential short from here
Looking like Eurusd is coming down. Best time to enter looks where that red box is which is perfectly in between the 61.8 and the fib reversal zone, if i see reaction at this point, i will be entering a short there.
If we see a clear re test, i will enter this trade
Reacting nicely in the golden pocket, will be looking to long if there is some sort of pullback at 1.85859
waiting on a re test then we will see
GA has hit the top of the cannal, is also reacting nicely in the fib reversal area, anticipating one more leg down to 1.85631.
As you can see above, the bullish momentum has been slowed down and now its time for the bears to come into action. Potential head and shoulders pattern which could then be identified as a potential short, possibly down to 1250?