We have several factors of confluence supporting a trade short:
- rejection of .618 fib retrace
-rejection of 50 EMA
-with the trend (I'm not the best at drawing trend lines)
-key 93 area which has acted as previous support
-doji candle shape
I'm looking to take profit around the 90 area. This pair could head lower considering that the RBA is looking to cut rates.
- rejection of .618 fib retrace
-rejection of 50 EMA
-with the trend (I'm not the best at drawing trend lines)
-key 93 area which has acted as previous support
-doji candle shape
I'm looking to take profit around the 90 area. This pair could head lower considering that the RBA is looking to cut rates.