AUDUSD forecast - location - setup
Updated
AUDUSD forecast - location - setup
Two possible scenarios for this week:
- Green arrow: Price tested an old and strong weekly support but USD is not strong enough to break it definetively; rebound up to channel line.
- Red arrow: support is no more valid; bear shooting star formed on friday and moving averages are going south. Enter below 0.71300 and keep open for a while.
A lot of news are expected this week so look at US index and price action at lower timeframes.
Two possible scenarios for this week:
- Green arrow: Price tested an old and strong weekly support but USD is not strong enough to break it definetively; rebound up to channel line.
- Red arrow: support is no more valid; bear shooting star formed on friday and moving averages are going south. Enter below 0.71300 and keep open for a while.
A lot of news are expected this week so look at US index and price action at lower timeframes.
Trade active
Green arrow scenario in progress.SL moved to break even
Trade closed: target reached
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