AUD/USD is hitting resistance at Fibonacci Level 0.382 on the Daily timeframe. The overall monthly trend is a downtrend. Key Level is between 0.382 and .5. The ideal situation would be a signal of retracement at this price range. I think if the price passes the monthly key level it could be a sign of a reversal but I think the odds of a reversal happening is less as compared to a continuation to the downside. I think price broke the monthly key level as a signal to the downside so the price will retest level again and continue downwards.
On a side note price is about to hit EMA 8 and it looks like EMA 8 and SMMA 21 are about to cross.
Trading Journal #9
- Austin S.
On a side note price is about to hit EMA 8 and it looks like EMA 8 and SMMA 21 are about to cross.
Trading Journal #9
- Austin S.
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.