Lets take a look at the Aud/Usd market,
you can see we are testing the structural low here around 0.7100 support area.
It does look like we are gonna continue go down in the longer term, that being said I think we have a high likelihood of some kind of recovery as long as we form an exhaustive candle between now and 0.7500, I will be looking for reasons to sell this market.
Break down below here I think opens up to a move to 0.7000 and break below 0.7000 opens up to 0.6800.
Good luck! Carpe Diem!
you can see we are testing the structural low here around 0.7100 support area.
It does look like we are gonna continue go down in the longer term, that being said I think we have a high likelihood of some kind of recovery as long as we form an exhaustive candle between now and 0.7500, I will be looking for reasons to sell this market.
Break down below here I think opens up to a move to 0.7000 and break below 0.7000 opens up to 0.6800.
Good luck! Carpe Diem!
lets see how it behaves around 0.7000 psychological level.