Not an ideal set up for me but something that could play out if we see weak commodity currencies and a strong dollar.
wouldnt want to enter until a break and retest of the channel as the pair has been in a steady uptrend.
The rejection at the 50% weekly fib retracement does provide some stronger motive for shorting however i need more confluence.
If the channel does break im expecting a bounce off the key psychological level 0.7 and then a retest before shorting to the high volume nodes around 0.68
Again not an ideal set up, AUDUSD looks alot clearer to me
wouldnt want to enter until a break and retest of the channel as the pair has been in a steady uptrend.
The rejection at the 50% weekly fib retracement does provide some stronger motive for shorting however i need more confluence.
If the channel does break im expecting a bounce off the key psychological level 0.7 and then a retest before shorting to the high volume nodes around 0.68
Again not an ideal set up, AUDUSD looks alot clearer to me
