I admit that I'm a pretty ignorant trader but I dare to share with you a thought that can be as certain as wrong... Let's see what happens!
From the technical point of view of support and resistance levels, AUDUSD and AUDNZD should be about to take a major retracement. The mass of investors will soon realize that those price levels can not indefinitely fall and reach the levels of September 2008. In terms of temporal repetition thinking, these pairs are now in a very strong turbulence area so this week they should retreat. What do you think about this? I would not open any position until observing a significant change in those trends, but I think that there might happen something..
Hi laplacianlab, I don't trade on AUDNZD yet because i didn't create yet a profitable EA, regarding AUDUSD is still bearish but movement seem to be flat,possible inversion soon up to 0,9172 at the moment
AUDUSD actually experienced a major retracement. Now it's back at the same level as the day I opened this thread.
So what should happen next, according to this theoretical aspect (temporal repetition thinking)?
Just a suggestion.
example - AUDUSD technical analysis thread is this one.