WHAT GOING ON GUYS!!! DANNY HERE. I wanted to share my POV on the Aussie-Dollar.
Sometime last week i think 27th Nov, i notice that Aussie finally broke the area of resistance i have here. Also on the same same day i saw Gold breaking through 1750.00 heavily to the downside.
Since we all know that Gold is negatively correlated to Aussie, i automatically knew AUDUSD was going up. So all i was waiting on was a retracement of about 30-50 pips, a 0.5 FIB retracement level and finally break of a counter trend line i had on a smaller timeframe which presented itself about 45 mins ago, and then i got in on a long position.
My analysis may or may not be correct but this is just my share thought on the AUDUSD pair. GANG!!!
Sometime last week i think 27th Nov, i notice that Aussie finally broke the area of resistance i have here. Also on the same same day i saw Gold breaking through 1750.00 heavily to the downside.
Since we all know that Gold is negatively correlated to Aussie, i automatically knew AUDUSD was going up. So all i was waiting on was a retracement of about 30-50 pips, a 0.5 FIB retracement level and finally break of a counter trend line i had on a smaller timeframe which presented itself about 45 mins ago, and then i got in on a long position.
My analysis may or may not be correct but this is just my share thought on the AUDUSD pair. GANG!!!