THIS IS MY BIAS ON USD/AUD .
FIRST OF ALL WE HAVE SEEN A BIG BULLISH MOVE ON THIS PAIR FOR AROUND 500 PIPS.
AS HE HAVE BEEN BULLISH FOR MANY DAYS IT NECESSARY FOR PRICE TO RETRACE,
WHERE WE WOULD FALL AGAIN IN THIS WEDGE.
AND IF WE LOOK AT THE TRENDLINE IN THE WEDGE, WE COULD BE TAPPING THIS WITH ONE MORE 3TH BEARISH TOUCH WHAT WOULD RESULT THAT PRICE WOULD GO DOWN.
BECAUSE I THINK PRICE JUST MADE A FAKEOUT FOR MARKET MAKERS TO GRAP SOME MORE LIQUIDITY A THEN REVERSE TO THE DOWNSIDE.
& WE ALSO HAVE NFP COMING, THAT I THINK WILL HELP PUSH PRICE LOWER.
FIRST OF ALL WE HAVE SEEN A BIG BULLISH MOVE ON THIS PAIR FOR AROUND 500 PIPS.
AS HE HAVE BEEN BULLISH FOR MANY DAYS IT NECESSARY FOR PRICE TO RETRACE,
WHERE WE WOULD FALL AGAIN IN THIS WEDGE.
AND IF WE LOOK AT THE TRENDLINE IN THE WEDGE, WE COULD BE TAPPING THIS WITH ONE MORE 3TH BEARISH TOUCH WHAT WOULD RESULT THAT PRICE WOULD GO DOWN.
BECAUSE I THINK PRICE JUST MADE A FAKEOUT FOR MARKET MAKERS TO GRAP SOME MORE LIQUIDITY A THEN REVERSE TO THE DOWNSIDE.
& WE ALSO HAVE NFP COMING, THAT I THINK WILL HELP PUSH PRICE LOWER.