1- Major Multi-Year Double Bottom (weekly)
2- Additional Minor Double Bottom formation (daily)
Both which point to major trend reversal
3- Break and Re-Test of 2018 bearish trend line
4- Historic Lows!! (AUD very undervalued, USD overbought)
Even during the heat of the financial crash price did not
stay below .6800 long
5- Despite the recent flash crash a few days ago price was unable to
hold the lows.
6- Extremely aggressive buying ensued after breaching the lows
7- Weekly. Price ended the week with an extremely bullish footprint.
Until the data proves otherwise, the only sensible positions to be on
the outlook for at this point will be longs. Wait for correction on smaller
time frame before getting in.
Hope that helps!
Best of luck in your trading :)
2- Additional Minor Double Bottom formation (daily)
Both which point to major trend reversal
3- Break and Re-Test of 2018 bearish trend line
4- Historic Lows!! (AUD very undervalued, USD overbought)
Even during the heat of the financial crash price did not
stay below .6800 long
5- Despite the recent flash crash a few days ago price was unable to
hold the lows.
6- Extremely aggressive buying ensued after breaching the lows
7- Weekly. Price ended the week with an extremely bullish footprint.
Until the data proves otherwise, the only sensible positions to be on
the outlook for at this point will be longs. Wait for correction on smaller
time frame before getting in.
Hope that helps!
Best of luck in your trading :)