Potential AUDUSD Swing Position 60-100 Pips
Updated
Hello Traders, #ForexFargo checking back in!
Today our analysis is on AUDUSD.
The overall trend is now Bullish.
This post is a continuation of the post linked below.
Price since then, has broken through our Daily Support Level of 0.71000.
We are now approaching our Weekly Resistance Level of 0.71500.
I expect price to break past the resistance level today and continue toward our next Major Daily Level of 0.72000.
Tomorrow is a National Bank Holiday in USA, President's Day. So I expect weakness in dollar.
If price holds, it can break through this Weekly resistance level and continue toward next Daily Level of 0.72000.
If price fails to break resistance level, then we can expect price to head retrace back toward our previous Daily Level of 0.71000.
I have not entered a position yet. Waiting for price action confirmation.
As always, happy trading and remember risk management!
Today our analysis is on AUDUSD.
The overall trend is now Bullish.
This post is a continuation of the post linked below.
Price since then, has broken through our Daily Support Level of 0.71000.
We are now approaching our Weekly Resistance Level of 0.71500.
I expect price to break past the resistance level today and continue toward our next Major Daily Level of 0.72000.
Tomorrow is a National Bank Holiday in USA, President's Day. So I expect weakness in dollar.
If price holds, it can break through this Weekly resistance level and continue toward next Daily Level of 0.72000.
If price fails to break resistance level, then we can expect price to head retrace back toward our previous Daily Level of 0.71000.
I have not entered a position yet. Waiting for price action confirmation.
As always, happy trading and remember risk management!
Trade active
Entered trade at 0.71500. Looking for exit around 0.72000. 50 pips when TP hits.Trade closed: target reached
TP HIT PERFECTLY
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