Previous AUDUSD Forecast After Rejecting Daily Trendline Around The 0.770 Area, AussieDollar Has Drop 120pips Where It Has Re-tested The Famous Support TREND-LINE Which Price Has Been Respecting Since June 2016.
I Have Also Been Able To Identify On The Daily T-F That Price Has Formed A Rising Wedge Pattern Which May Indicate A Possible Continuation Of A Downfall For This Pair,
We Finally Get The Breakout Which We Was Anticipating From The Daily Rising Wedge Chart Pattern And Daily Candle Failing To Close Above The 23.6%.
Unfortunately Due To The Impact Of The News On Friday We Was Unable To Seek A Good Entry So My Plan For Getting In-To This Pair Is By Waiting For The Daily Candle To Close Below 0.382% Then I Will Aim For 0.74440 Which is Just Below The 50% Ratio As My TP1 Area ( Which is 90Pips Away From My Entry. If Price Continues TO Break Lower I Will Aim For The 0.764 Area But Will Be Cautious And Alert On Areas Where Price May Bounce