Today most pairs are expected to trade in a tight range, why expected? Because its how they have been trading in the last couple of days. After the sharp moves we saw earlier last week they need to take a rest!
So, for most of them we will be trying to play de range, buying near the bottom of the range or going short at the top of the range. And obviously, all take profit orders will be placed at the opposite extreme (nothing more).
Here is the expected range in the Aussie
Green lines are short term support and resistance lines. Blue lines are long term S&R levels.
Good luck to you all!
Tags: aussie analysis