At the current moment the Aussie Dollar is presenting us with two conflicting scenarios.
Bearish Scenario: After reversing off of the .382 Fib retracement, price may continue downward breaking the .6985 level of support.
If this bearish trend continues, I expect price to find support near the 1.272 extension of the bearish impulse leg--a level with strong confluence with Jan 1, 2019 historical structure.
Bullish Scenario: After reversing off of the .382 Fib retracement, price has found support at the .6985 level.
With clear RSI Divergence, this level of support can hold and a double bottom may be formed.
In this case, I will target the .382 retracement once again, with a secondary target at the .5 retracement.
Bearish Scenario: After reversing off of the .382 Fib retracement, price may continue downward breaking the .6985 level of support.
If this bearish trend continues, I expect price to find support near the 1.272 extension of the bearish impulse leg--a level with strong confluence with Jan 1, 2019 historical structure.
Bullish Scenario: After reversing off of the .382 Fib retracement, price has found support at the .6985 level.
With clear RSI Divergence, this level of support can hold and a double bottom may be formed.
In this case, I will target the .382 retracement once again, with a secondary target at the .5 retracement.
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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.