AUD/USD - SHORT
1M
3 months in a row we have retested the Monthly support, this month we created a new low with the third retest. EMA pointing downwards
1W
Last week’s candle retested the Monthly but made a new low point, this was the 4th week we tested this support area. Due to a new low being formed by last week’s candle, I suspect strong bearish momentum still in the market. EMA pointing down.
1D
Fridays candle close wicked the EMA and we have retested this same area today before heading down. EMA pointing down.
4H
Retracement back to the preferred fib zone, and a close below the EMA. Target set after the Monthly Area.
3 months in a row we have retested the Monthly support, this month we created a new low with the third retest. EMA pointing downwards
1W
Last week’s candle retested the Monthly but made a new low point, this was the 4th week we tested this support area. Due to a new low being formed by last week’s candle, I suspect strong bearish momentum still in the market. EMA pointing down.
1D
Fridays candle close wicked the EMA and we have retested this same area today before heading down. EMA pointing down.
4H
Retracement back to the preferred fib zone, and a close below the EMA. Target set after the Monthly Area.
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