EUR/AUD –channel continues

Note: ADP and NFP this Week!

Bearish: We are currently @ 1.6824 in a 3rd wave in a channel. IF we can get the breakout of the slope support here , we are looking for a continuation to the ATR Target @ 1.6759 with the further target the 0.618 Fibo @ 1.6711. Watch the USDX for direction. The average daily true range (ATR) for the pair is 122 pips per day and it’s 90 day average is 132 pips per day. USDX is currently moving up but may be topping out.

Posted to Introduction to Forex Targe… on Aug 28, 2023 — 8:08 AM

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