TECHNICAL ANALYSIS APPLIED TO BUILD UP A PICTURE.

PLEASE SEE THE CHART FOR AN EXPLANATION AS TO HOW TO BUILD UP A PICTURE AND AID YOUR DECISIONS WITH GETTING LOW OR GOING SHORT.
PURELY TECHNICAL ANALYSIS, MACRO INFLUENCES CAN BE ALSO ADDED TO HELP REFINE THE PICTURE FURTHER. NOT ADDED IN THE EXAMPLE.

MONTHLY LEVELS AND LINES ARE RED
WEEKLY LEVELS AND LINES ARE BLUE
DAILY LEVELS AND LINES ARE ORANGE

Komen:

So the sentiment seems to of shifted here in this pair moving pass the two levels i was hoping to get short at. This is also apart of building the picture for the trade. Keep nimble with your bias. My 2 levels outlined were my line in the sand. Price having moved pass these levels signals to me i need to take another look at price action possibly adjust levels or look to MACRO news influence.
Of recent times the TARIFFS that have been imposed by the US, have not been applied to Australia. As a commodity based economy, the rally in price is the market pricing in the advantage Australia now has over other economies around the world.
So the rally we are seeing is a MACRO influence and as the announcement was sudden you see the dramatic move in the AUSSIE dollar.