HAPPY NEW YEAR ALL! Now back to business.
AUDUSD broke out of a rising wedge it had already started to drop but was brought back to the 0.71800 - 0.72000 zone by NFP, now we expect a little bit of accumulation in that zone before gaining momentum which will push the price down to 0.70000 (Some 200 pips). As usual, we keep a keen eye on lower timeframes to spot a nice bearish pattern so we can trade with a good risk to reward ratio.
AUDUSD broke out of a rising wedge it had already started to drop but was brought back to the 0.71800 - 0.72000 zone by NFP, now we expect a little bit of accumulation in that zone before gaining momentum which will push the price down to 0.70000 (Some 200 pips). As usual, we keep a keen eye on lower timeframes to spot a nice bearish pattern so we can trade with a good risk to reward ratio.