Long on aus/usd
SIGNS:
Clear support & resistance shown as well as candles staying above 50 MA.
Expecting price to reach the 2.618 fib level and stop loss at fib level zero.
A lot of bullish candles show bullish momentum.
Price has respected both the trend lines as well as previously consolidating at the support level.
Confluences:
A very bearish engulfing candle at 0.71572.
Clear support & resistance shown as well as candles staying above 50 MA.
Expecting price to reach the 2.618 fib level and stop loss at fib level zero.
A lot of bullish candles show bullish momentum.
Price has respected both the trend lines as well as previously consolidating at the support level.
Confluences:
A very bearish engulfing candle at 0.71572.
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