Situation in AUD / USD at end of 01.03.2019 Short Channel
This pair is trading in a short channel since a few days.
At the moment is sitting on a support zone in range 0.7070 which comes from low of 21.2.2019.
Normally it should go on further down in that channel.
Maybe from now next time its going little bit to the upside of this channel at first in range 0.7090 /0.7100
But direction is SHORT and it should go lower trading in that channel further down to 0.7040
If it breaks the channel to the upside (i have marked channel in red)
than we have a new situation with a LONG trading setup and will analyse new.
At the moment is sitting on a support zone in range 0.7070 which comes from low of 21.2.2019.
Normally it should go on further down in that channel.
Maybe from now next time its going little bit to the upside of this channel at first in range 0.7090 /0.7100
But direction is SHORT and it should go lower trading in that channel further down to 0.7040
If it breaks the channel to the upside (i have marked channel in red)
than we have a new situation with a LONG trading setup and will analyse new.