Last night, we witnessed a strong absorption volume coming in to scoop AUDUSD at the lows.
This channel is in play now and I expect further upside for AUDUSD till it reaches 0.80 at least.
EURUSD on the other hand has reached the top of a similar channel.
Therefore I expect my EURAUD short position opened last night to continue dropping.
For those who wants to trade the Aussie, I suggest waiting till it reaches the top of the channel before looking for short opportunities.
This channel is in play now and I expect further upside for AUDUSD till it reaches 0.80 at least.
EURUSD on the other hand has reached the top of a similar channel.
Therefore I expect my EURAUD short position opened last night to continue dropping.
For those who wants to trade the Aussie, I suggest waiting till it reaches the top of the channel before looking for short opportunities.
