AUDUSD Monthly Outlook 01/11/2017
New month new candle close on the Higher timeframe.
AUDUSD closed and rejected my Monthly key level. This along with the continued Higher high closes and continuing to respect the ascending tend line makes me think we could see a retest of the 0.8100 level.
We also have had a rising 3 candle formation on the last 3 months (I think that s the name of the formation correct me if i'm wrong) and we have got a couple of fib confluences with the 0.618 lining from a monthly high key level to low, also a 0.32 swing low to high fib.
Also possible wave 4 to 5 just to mix things up even more
see what happens around the 0.77200 level first.
AUDUSD closed and rejected my Monthly key level. This along with the continued Higher high closes and continuing to respect the ascending tend line makes me think we could see a retest of the 0.8100 level.
We also have had a rising 3 candle formation on the last 3 months (I think that s the name of the formation correct me if i'm wrong) and we have got a couple of fib confluences with the 0.618 lining from a monthly high key level to low, also a 0.32 swing low to high fib.
Also possible wave 4 to 5 just to mix things up even more
see what happens around the 0.77200 level first.