AUDUSD Update 12th March, 2014
AUDUSD Update 12th March, 2014
Daily Chart and H4 Chart
- Daily, we are hanging in the upper side of the clouds (barely)
- Strong bearish momentum after the highs from last week (Giving back more than half of last weeks gain)
H4- During Asian session, price held at the 38.2% fib level of the swing from the low
- A 78.6 fib retrace is a confluence of a 161.8 fib ext of the first swing of the retrace which gives it more strength for a bounce scalp trade
- During Asian session, price held at the 38.2% fib level of the swing from the low
- A 78.6 fib retrace is a confluence of a 161.8 fib ext of the first swing of the retrace which gives it more strength for a bounce scalp trade
Outlook Trade opportunity
H4 - I would be looking closely at the 78.6 fib retrace today for a potential scalp*Important Data is out tomorow
Tips -
Always take note of any economical news event on our provided calender below
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