EUR/AUD – Breakout next

Note: Unemployment claims was neutral

Bearish: We are currently @ 1.6706 in a range. We have completed 5 waves up and a break of the slope resistance and we are looking for a continuation to the 0.618 Fibo @ 1.6648 with the further target for today the ATR Target @ 1.6586. WE have divergence in play. Watch the USDX for direction. The average daily true range (ATR) for the pair is 136 pips per day and it’s 90 day average is 130 pips per day. USDX is currently threatening a move up.

Posted to Introduction to Forex Targe… on Nov 09, 2023 — 8:11 AM
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