AUD/USD - Crucial Support @ 0.62000 to 0.61700
Dear Friends,
How I see it:
If support area holds, pair can potentially rally to 0.64000 -
in the near term.
It will also confirm the main swing support for the pair.
Up to 0.68000 in the long run.
I have indicated my buy zone, please see how price react first.
Keynotes:
1) If a 4HR candle body closes below 0.61600, I will not enter on that day.
2) To avoid confusion, price may test 0.61700 hard, but if the day candle
pulls back and still closes above 0.62000, we'll be golden.
I'm only creating a perfect scenario for an explanatory reason.
I am confident that you know we are NOT trading in a perfect market,
in la la land!
Thank you for taking the time to study my analysis.
How I see it:
If support area holds, pair can potentially rally to 0.64000 -
in the near term.
It will also confirm the main swing support for the pair.
Up to 0.68000 in the long run.
I have indicated my buy zone, please see how price react first.
Keynotes:
1) If a 4HR candle body closes below 0.61600, I will not enter on that day.
2) To avoid confusion, price may test 0.61700 hard, but if the day candle
pulls back and still closes above 0.62000, we'll be golden.
I'm only creating a perfect scenario for an explanatory reason.
I am confident that you know we are NOT trading in a perfect market,
in la la land!
Thank you for taking the time to study my analysis.
Note
DO NOT BUY UNDER 0.62000 !
Market literally opened gap down, exactly below demand.
Tariffs effect, institutional liquidity sweep...?
I hoped for a gap up open.
Green thesis above is on hold until 1D candle body closes above 0.62000
Note
Yesterday candle did close above 0.62000.
I believe the gap down was n liquidity dip pre-reversal.
Price is currently testing 0.61800 - 0.61600 demand zone.
For safety I will rather look for a long entry above 0.62000.
I will be even more confident in the "GREEN/LONG" thesis if DXY remains below 108.000!
Note
Serious selling pressure @ 0.63000 hurdle
Let's see what happens today - NFP!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.