In this analysis I use the Gann Fan to assist in projecting price into time. I've come up with two probable scenarios based on previous price action and current market context. Given the incredible bull run that AUDUSD has been enjoying, it's easy to favor more upside. However, developing market structure at this level suggests a potential period of consolidation or even moving to retest support or make new lows below last support into March.
Which scenario are you most biased towards? Let me know in the comments which one you favor and why!
Which scenario are you most biased towards? Let me know in the comments which one you favor and why!