This pair has seen some pretty big movement over the past few weeks and we recently had a pretty big bearish kumo breakout.
I am looking for that bearish trend to continue, the Australian brush fires and the subsequent spending are probably going to hurt the Aussie a bit over the short term as well.
I've drawn out a pretty wide stop loss here above the previous lower high that we saw.
I'm aiming for the previous major price structure lows that we saw with partial take profit levels to aim for along the way.
If we fail to maintain our bearish sentiment or if our confirmations change, this setup may become invalidated.
I am looking for that bearish trend to continue, the Australian brush fires and the subsequent spending are probably going to hurt the Aussie a bit over the short term as well.
I've drawn out a pretty wide stop loss here above the previous lower high that we saw.
I'm aiming for the previous major price structure lows that we saw with partial take profit levels to aim for along the way.
If we fail to maintain our bearish sentiment or if our confirmations change, this setup may become invalidated.