AUDUSD TESTING
Here we see two options;
1) a Long opportunity using the Ascending Triangle Pattern.
Here we will wait for an upward break back into the support line.
We then anticipate a rally up towards .72800 and prepare our entry and exit strategy.
2) a Short opportunity using the Double Top strategy.
Price retests resistance line twice but is rejected back to midline.
Slight breakthrough of support though currently retesting as resistance.
Here we wait for an opening candle with a new low around .72200.
We now prepare a short entry with our first target around .72100.
1) a Long opportunity using the Ascending Triangle Pattern.
Here we will wait for an upward break back into the support line.
We then anticipate a rally up towards .72800 and prepare our entry and exit strategy.
2) a Short opportunity using the Double Top strategy.
Price retests resistance line twice but is rejected back to midline.
Slight breakthrough of support though currently retesting as resistance.
Here we wait for an opening candle with a new low around .72200.
We now prepare a short entry with our first target around .72100.
Penafian
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