AUDUSD close to hitting top of fork?
1) AUDUSD seems to have a new fork/slope (navy blue). See zoom at the ML (green arrow) & resistance becoming support on lower quartile and sliding parallel (SP) above it.
2) AUDUSD seems to be completing the CD leg of abcd; which is within ABCD. d=P, and aligns with an SP, and is just below the upper median line parallel, so a strong turn is likely there.
Could be a short opportunity if strong resistance is apparent at 0.972-3 (if you're comfortable shorting inside an upward-sloping fork).
2) AUDUSD seems to be completing the CD leg of abcd; which is within ABCD. d=P, and aligns with an SP, and is just below the upper median line parallel, so a strong turn is likely there.
Could be a short opportunity if strong resistance is apparent at 0.972-3 (if you're comfortable shorting inside an upward-sloping fork).
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