How to Trade the next Bullish Move on AUD/USD?
Good morning, traders! Today we bring you our multi-timeframe AUD/USD analysis to show you what we expect in this pair, along with a detailed technical explanation of our view of the context.
🔸First of all, it should be noted that we are still in a downtrend. A change in trend will occur only if the price manages to break the bearish macrostructure (marked channel).
🔸Although we are within this channel, it is possible to look for a bullish movement.
🔸We see that the price bounced off the lower trend line, and since then, the rise has been substantial.
🔸At this moment, it is in a consolidation/corrective process after the fakeout at the resistance zone.
🔸What we are waiting for is a break from this correction.
In a minor temporality, it is seen in the following way:
🔸The safe point that we consider taking a bullish position is above the internal swing of the correction to avoid some fakeout.
🔸If this happens, there is a high chance that the price will reach the downtrend line.
🔸First of all, it should be noted that we are still in a downtrend. A change in trend will occur only if the price manages to break the bearish macrostructure (marked channel).
🔸Although we are within this channel, it is possible to look for a bullish movement.
🔸We see that the price bounced off the lower trend line, and since then, the rise has been substantial.
🔸At this moment, it is in a consolidation/corrective process after the fakeout at the resistance zone.
🔸What we are waiting for is a break from this correction.
In a minor temporality, it is seen in the following way:
🔸The safe point that we consider taking a bullish position is above the internal swing of the correction to avoid some fakeout.
🔸If this happens, there is a high chance that the price will reach the downtrend line.
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