Forex EUR/USD Daily Video, October 25, 2021

Thanks Sive for all your work.
AUD has started to continue downward from the point you accurately specified on Friday ;), and appears to be reacting to the COP (7455) of an AB-CD type action. What impact do you suggest the dollar rival demand could have on the currency and how would you suggest we manage short position taken at 7505-12?
 
Thanks Sive for all your work.
AUD has started to continue downward from the point you accurately specified on Friday ;), and appears to be reacting to the COP (7455) of an AB-CD type action. What impact do you suggest the dollar rival demand could have on the currency and how would you suggest we manage short position taken at 7505-12?
HI Viresh,
well, it would be safer to not set too far target. First I would focus on daily engulfing target which is equal to its length and "222" minimum target - 3/8 downside retracement (that is mostly the same). Australia stands among those who could start to change rates, and it could be a bit risky to hold bearish long term position there. Thus circa 0.7380 could be reached, but deeper downside action is not the decided fact yet.
 
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