Monday Morning Forecast 16.8.2021
AUD/USD
*in a wider range; rejection at the top of an impulse and now showing a reversal - most likely to further range in the short term
*waiting for the high and low to be broken and staying out
EUR/JPY
*out of a wider range and seeing some momentum but corrective in the short term; going into another smaller range
*waiting for the high and low to be broken; if we break the low, is it impulsive or corrective? If we impulse up, we are back in the range and created a fake out.
EUR/USD
*trending market; small signs of exhaustion however still seeing momentum
*key will be how we break the high and whether we break and retrace; if we do then momentum has been exhuasted and confirmed
General note = Mondays tend to be more corrective
AUD/USD
*in a wider range; rejection at the top of an impulse and now showing a reversal - most likely to further range in the short term
*waiting for the high and low to be broken and staying out
EUR/JPY
*out of a wider range and seeing some momentum but corrective in the short term; going into another smaller range
*waiting for the high and low to be broken; if we break the low, is it impulsive or corrective? If we impulse up, we are back in the range and created a fake out.
EUR/USD
*trending market; small signs of exhaustion however still seeing momentum
*key will be how we break the high and whether we break and retrace; if we do then momentum has been exhuasted and confirmed
General note = Mondays tend to be more corrective