AU has been chugging around yesterday, but notice that an exhaustion pattern is currently forming. In today's trading session, I will be focusing on short-term selling opportunities. Two scenarios that I'm personally looking to trade the market.
1. If we notice more bullish pressure to possibly re-test the top band, we might be able to catch entry with candlestick pattern as the trigger (eg. doji, pin-bar, etc).
2. If market continues to grind downwards, avoid chasing it and wait for price to pullback towards the 18ema. I'm expecting further bearish pressure towards 0.7660 (support zone 1). Stay reactive.
However, do not forget the higher timeframe picture remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. If we notice more bullish pressure to possibly re-test the top band, we might be able to catch entry with candlestick pattern as the trigger (eg. doji, pin-bar, etc).
2. If market continues to grind downwards, avoid chasing it and wait for price to pullback towards the 18ema. I'm expecting further bearish pressure towards 0.7660 (support zone 1). Stay reactive.
However, do not forget the higher timeframe picture remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.