A simple and clear analysis.TheBears have decided to come in now
Technical:
- Possible AB=CD to be formed with parameters of 78.6/127.2 respectively.
- The new high has failed to form. Another indication of bears in power.
- MACD still indicates the bearish sentiment.
- support line 1 has aligned with -27.2 and 127,2 Fibonacci levels.
- The market looking to form point D
Fundamentals:
- We know there was some bad news for Aussie dollar but the market decided to go against it. This happens sometimes. The reason why the market went against, its because it needed to restore it equilibrium. Some would say the smart money wanna sell at highs. These smart money could be the bankers and high institutions. The top 5% earners.
- The earlier bull power was the way to take every retail traders profits. Poor them, they were probably right.
NB : 15 pips above the suggested stop loss to avoid spikes.
Good luck and Happy Trading :)
- Possible AB=CD to be formed with parameters of 78.6/127.2 respectively.
- The new high has failed to form. Another indication of bears in power.
- MACD still indicates the bearish sentiment.
- support line 1 has aligned with -27.2 and 127,2 Fibonacci levels.
- The market looking to form point D
Fundamentals:
- We know there was some bad news for Aussie dollar but the market decided to go against it. This happens sometimes. The reason why the market went against, its because it needed to restore it equilibrium. Some would say the smart money wanna sell at highs. These smart money could be the bankers and high institutions. The top 5% earners.
- The earlier bull power was the way to take every retail traders profits. Poor them, they were probably right.
NB : 15 pips above the suggested stop loss to avoid spikes.
Good luck and Happy Trading :)
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