if price breaks outside the green trend line and volume increases, buy. If it breaks bearish wait for consolidation and repeat trade setup.
This pair has been bouncing within this channel for a while and should drop after this peak. If you also look at the weekly chart it has reached a point of resistance.
EU has tested this resistance and is ramping up to break it. Possible long position for around 25 pips.
Either the bounce will happen within the next hour or two or it will continue it's downward trend towards the next channel line where it will create a triple bottom and hopefully bounce back up to the top of the channel.
Price should bounce down as it has hit a flag resistance zone
Potential Wolfe wave formation on AUD USD for a long position.