GBP/AUD-starting a 3rd wave

Note: Unemployment claims was negative today

Bearish: Currently we are at 1.9201 in a channel in a range. We are looking to continue a third wave to the ATR target @ 1.9100 area and then the S5 @ @ 1.8976 area. This requires that the USDX continue down so Watch the USDX for direction. The average daily true range (ATR) for the pair is 100 pips per day and it’s 90 day average is 108 pips per day. USDX is currently down.

Posted to Introduction to Forex Targe… on Jun 13, 2024 — 8:06 AM
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