Still in divergence, price reached 0.7317 on monday 13th and retract as anticipated on tuesday 14th almost same value. Including the beginning of wednesday trading day, price retraced almost 145 pips. Is this retracement a mid/long term condition? I don't know.
To me it seems that AUDUSD is in an uptrend, so this retracement could be just a extreme short term condition just to continue to a new high. My possible target is about 0.7576/91. Once again for the record, I'm not in this trade.
A review of friday's doji. A doji is a strong signal of change. That could be understood as a reversal signal, but, it has to be on the top or bottom of a trend. In this particular case, the doji was lower than the most closer high. That should be enough to discredit this doji. When divergence on MACD appear, is just matter of time that price is going to follow.
Tomorrow I'll post a GBPUSD update.
