AUDUSD Price Action for Upcoming Week.
Long likely from week open, retracing between 50% & 78.6%, but closer to 62% IMO, to fill the current hourly range.
From there we will likely see a strong bearish move, filling the bullish range created after the "flash crash."
Exactly where that dip will stop Im not precisely sure, so use appropriate risk management when approaching a long after the drop into discount.
I would go long at week open and then have shorts ready in the premium zone, AUD news coincides with these moves.
GBPUSD is very similar, we have EUR Red Folder News event Thursday which can affect GBP as well, and will likely be a catalyst as usual.
Good Luck.
From there we will likely see a strong bearish move, filling the bullish range created after the "flash crash."
Exactly where that dip will stop Im not precisely sure, so use appropriate risk management when approaching a long after the drop into discount.
I would go long at week open and then have shorts ready in the premium zone, AUD news coincides with these moves.
GBPUSD is very similar, we have EUR Red Folder News event Thursday which can affect GBP as well, and will likely be a catalyst as usual.
Good Luck.