FOREX Technical Analysis: AUD/USD Coiled for Move but Direction Unclear
Weekly Candles
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: As long as the AUDUSD is below 10585, it's worth keeping in mind the longer term AUD/USD triangle, in which price may decline towards parity or below in order to complete triangle wave E. COT data reveals a sentiment extreme as well.
FOREXTrading Strategy: No change - "Reward/risk is favorable against 10585 for bears".
LEVELS: 10375 10408 10467 10527 10553 10585
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: As long as the AUDUSD is below 10585, it's worth keeping in mind the longer term AUD/USD triangle, in which price may decline towards parity or below in order to complete triangle wave E. COT data reveals a sentiment extreme as well.
FOREXTrading Strategy: No change - "Reward/risk is favorable against 10585 for bears".
LEVELS: 10375 10408 10467 10527 10553 10585
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