If we look at Monthly and Weekly timeframe we have a lot of rejection from 1.6200 (a big shooting star Weekly).
If we look daily we have 4 rejections from 1.60000 and 3 dojis and 1 spining top (clearly this means that Eur/Aud will drop)
What I'm looking in this trade is a retest of 1.5900 zone before going down, it's a good trade where the risk reward is 1:8
basically 174 pips. Our first obstacle is 1.58500 level, which I hope we can break and retest before going down.
So I'm very bearish in this pair this also includes GBP/AUD.
My target is 1.57285.
Daily rejections and dojis from 1.6000
If we look daily we have 4 rejections from 1.60000 and 3 dojis and 1 spining top (clearly this means that Eur/Aud will drop)
What I'm looking in this trade is a retest of 1.5900 zone before going down, it's a good trade where the risk reward is 1:8
basically 174 pips. Our first obstacle is 1.58500 level, which I hope we can break and retest before going down.
So I'm very bearish in this pair this also includes GBP/AUD.
My target is 1.57285.
Daily rejections and dojis from 1.6000