September 7, 2021

Market Update 9/6 – AUD Crosses into Big Levels Before RBA

AUDUSD has traded into the noted neckline and short term channel resistance (not shown) so I’m on the lookout for a pullback. RBA is tonight so be aware of a possible spike to test the line off of the May and June highs near .7480. Proposed supports now are .7380 and .7290.
May 19, 2021

Market Update 5/18 – Keeping an Eye on Aussie Crosses

AUDJPY is in black and BTCUSD (bitcoin) is in magenta. My six year old son is standing behind me as a I type and just said ‘they look the same’. He’s right! We’ve been waiting for AUDJPY to tag the underside of the trendline from the 2008 low since February (AUDJPY is below). That line is currently about 86.50. I’d love a spike into that level to short but I’m not sure that happens with BTCUSD already breaking down. I’ll wait for 86.50 (or so) unless price breaks under the line that crosses lows since 4/23 (see magenta line on 4 hour chart below)
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