AUDUSD Technical Long on Trendline Break

Notes:

• Classic break and retest of a major descending trend-line.
  
• Target is at 0.74 - the 38.2% Fib Retracement of the Bear Wave from the 78300 high to the 71600 low.
  
• Trade will be scaled in as needed.
  

Key Risks:

• Renewed June FOMC Rate Hike expectations. (USD upside)
  
• Incredible jobs figures this NFP-Friday. (USD upside)
  

All wave labels are arbitrary.

Kommentera:

Boost! NFP Figures were terrible.