AUDUSD 4hour Analysis August 2nd, 2020
AUDUSD Long idea
We are looking for long positions only on this pair as all significant timeframes are very bullish and we recently saw a break of our major resistance/monthly zone at 0.70800
Price action is pulling back on this 4hour timeframe so we will watch for higher lowers and strong bullish setups to confirm another push higher. (The blue trade path)
For us to consider short opportunities we need to see a break below our monthly zone with a retest and confirmed higher lower. (The orange trade path)
We are looking for long positions only on this pair as all significant timeframes are very bullish and we recently saw a break of our major resistance/monthly zone at 0.70800
Price action is pulling back on this 4hour timeframe so we will watch for higher lowers and strong bullish setups to confirm another push higher. (The blue trade path)
For us to consider short opportunities we need to see a break below our monthly zone with a retest and confirmed higher lower. (The orange trade path)
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