What is up with the $AUDUSD?
London markets opened, US just opened. $AUDUSD is just sitting there and resting on that EMA62 fence. Kinda like Humpty Dumpty before the great fall?
As I am writing, one candle is threatening to jump up into the bottom green line (1.0700) from the blue line. In 5minutes, it moved about 28pips. There were two 1M candles that was 10pip long....I don't trust these candles.
I like my candles nice and regular to the point of being boring. Maybe 2, 3 or 4 pips per candle.
So after that remarkable 333+ pip move yesterday fueled only by reasons known to all fundamental traders, AUDUSD looks like it has come to a screeching halt. Maybe it has something to do with the fact that today is the Friday before Halloween?
- Boss reading is at 1515 and counting.
- If it can try to test the 0750 resistance, that would make an interesting setup for a counter-trend sell
- It may be a day when I might just put the "Closed" sign on this trading shop.
The same thing is happening in $EURUSD. Although there really is no setup as yet. 5M charts may be worth looking into.
- Boss at 427 bars. (What will happen at 500?)
- SMA200 resistance. (Looks interesting for SELL trades)
- I would like a Boss of about 800 before I take my funds out the bank. Just waiting for now...
Happy Halloween Weekend!