AUDUSD has been trading lower for 6 consecutive weeks now. The price has formed a sizeable correction from the highs at 0.7750.
As I remain bullish in this market based on C.O.T analysis, it looks like the price is now matured to print another major leg up in the long term.
I will be looking to enter long position from the current levels.
After no much stimulus promises from Drahi this afternoon, EURUSD declined from the daily high at 1.1320 and is approaching a major support at 1.1260.
The pair was in a short term uptrend for a while and declining probabilities of FED raising interest rates should support the current up move.
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