This pull back is providing a nice risk reward ration of 1:2 for a long, if the pair pulls back further you can still get a good RR by extending SL to below 1.45118 and targeting 1.5475
With regard to my earlier view of the AUDJPY structure breaking and paving view for further down side, while waiting for the confirmation today it looks like we have an opportunity to grab up a 100 pips or so with a risk reward ratio roughly greater than 1:1.
Excellent structure for a possible long on GOLD with stops below 1062
AUDUSD has broken the channel, with the bets on a FED rake hike giving boost to the dollar and commodities affecting the Aussie I am looking to go short after a pullback in the lower time frames. Supporting: MACD bearish Divergence on the daily chart Broken the daily channel
A very quick trade if we get a decent pullback enter on price crossing above 4hr trend line support and exit on price touching daily trend line support of the rising wedge.
NZDUSD has broken both the 4hr and daily supportive structures opening up the possibility for a good short.