Hi Traders, hope you had a great bullish reversal setup yesterday. In yesterday's forecast, I expected AU to have a strong bullish reversal due to the over-extended condition & higher timeframe structure, if price has a probe setup at 0.7691 minor support zone with 0.7740 as the initial target, which was exactly what the market performed. As I noticed there are short-term selling pressure in the market, currently will be looking at short-term bearish mean reversion setup if there's a double rejection at 0.7793 resistance zone (previous swing high) with 0.7741 as the initial target. if the 0.7793 resistance is violated, do also pay attention to 0.7815 daily high. Avoid any breakout setup unless 0.7815 resistance zone is clearly breached. However, the overall trend on the higher timeframe remains bullish.
Trade safe.
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Trade safe.
Do follow my profile for daily fx forecast & educational content.
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