Is AUDUSD simply waiting around for the release of the RBA Interest Rate Decision Numbers?
Compare & Contrast with Christopher Lewis
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It appears that the eight-hour measures on down are too dynamic/unstable at this period to be followed for any significant length of time. But the 16-hour price flow remains bullish, and the pair has obviously elected to break through the previously identified resistance level (after the release of economic data).
This morning I compiled a new, very simple chart configuration that earned me a nice little chunk of change via USDCHF and looks to be in the process of doing the same with respect to USDCAD...
So, I want to keep track of other possible setups it's highlighting, but that are not yet fully developed...
First of all, I wouldn't be surprised to see AUDUSD drop as low as 0.6715 over the next 24+ hours, but at 0.6763, it's already a prime buy candidate, so I need to be prepared to pull the trigger quickly should I happen to get the signal.
I need to also keep an eye on EURUSD, given that at 1.0787, it too is near buy territory, although in this case, it's not quite there yet.
So, I want to keep track of other possible setups it's highlighting, but that are not yet fully developed...
First of all, I wouldn't be surprised to see AUDUSD drop as low as 0.6715 over the next 24+ hours, but at 0.6763, it's already a prime buy candidate, so I need to be prepared to pull the trigger quickly should I happen to get the signal.
I need to also keep an eye on EURUSD, given that at 1.0787, it too is near buy territory, although in this case, it's not quite there yet.
USDCAD was in consolidation for too long for my taste. So, I was going to exit the position when price suddenly began to sink toward breakeven, prompting me to discharge a market execution real quick, before I lost what little profit was left.
At about the same time (around 6:39 PM PDT) AUDUSD evidenced a moderate surge, at which point, I opted to pocket those gains, just in case the pair might decide to pull a surprise reversal sometime between now and the opening of the London session.