AUSSIE DOWN UNDER - 5 Factors of Confluence
After breaking through the 1.05 support level on the daily Chart, price came up to retest it and found resistance.
It was also met with a bearish slap by the 50EMA line and the 0.382 Fib Retracement level.
At this point a nice doji reversal candlestick formed and overall price is making the long way down after a triple top formed between September and November of 2014.
A good stop loss here might be 1.055, just above the 0.5 Fib retracement level.
It was also met with a bearish slap by the 50EMA line and the 0.382 Fib Retracement level.
At this point a nice doji reversal candlestick formed and overall price is making the long way down after a triple top formed between September and November of 2014.
A good stop loss here might be 1.055, just above the 0.5 Fib retracement level.