Buy above 0.6821. Stop loss at 0.6720. Take profit at 0.7052. Reason for the trading strategy (technically): Price is still hovering above our buying entry. We remain bullish looking to buy on dips above major support at 0.6821 (Fibonacci extension, horizontal swing low support) and we expect to see a nice bounce from this level to at least 0.7052 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,3,1) is seeing strong support above 4.3% and it is starting to turn up signalling a reversal.
Thanks for this.. analysis.. it's good thanks sir.
grprk
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sending thanks for the good analysis as always!
xosatwe
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Please post more of these analysis, it is one of the best I have seen in tradingview and I follow it everyday. Sending love from Australia!
BrijeshKukreja
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THnks mex. I am up by 34 pips because of you, I bought it right before the nz number came out yesterday. I just shorted the aud/usd pair since retail numbers on aid cane 0.0 vs 0.4 forecast. Let me know if this is a good trade