Attached is a daily chart of the December Aussie Dollar.
We maintain our short bias and will do so until it can settle above 103.70.
Tomorrow's NFP should be able to provide a significant push to currency pairs and provide more clarity.
102.60 remains our first objective on the downside.
December euro currency continues to compress to a tight triangle consolidation pattern and has potential to break out today or tomorrow.
We will look for a trade above 130.30 or below 128.70 as our signal to jump on the directional move. One thing that is important to remember is that price action immediately following tomorrow's NFP number may be a bit unreliable so we will dismiss as noise without further confirmation...good luck.
We maintain our short bias and will do so until it can settle above 103.70.
Tomorrow's NFP should be able to provide a significant push to currency pairs and provide more clarity.
102.60 remains our first objective on the downside.
December euro currency continues to compress to a tight triangle consolidation pattern and has potential to break out today or tomorrow.
We will look for a trade above 130.30 or below 128.70 as our signal to jump on the directional move. One thing that is important to remember is that price action immediately following tomorrow's NFP number may be a bit unreliable so we will dismiss as noise without further confirmation...good luck.
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