Good morning traders! The pair should have completed the first bearish leg (A) and now, it should develop a consolidation movement (B or Irregular Bx). If you are taken short position on Wave 5, take profit on these levels or move stop to breakeven. If you want try to take short position, sell the rally on Wave B (to find reversal pattern on low TF), If you want try to take long position (speculative), you need a clear strategy (stop loss). Thank you for your support and trade with care! Our Analysis:
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Reserve Bank of Australia's monetary policy announcement is expected... caution!