Price Altitude: Middle
Daily Trend: Down
4H Trend: Down
Price Analysis: After being stuck in a large range over the last 2 months, AUD has finally broken down into a downtrend.
Anticipated Move: Currently AUD is sitting on top of a 4h demand zone which is typically not a good sign for longs. I anticipatesome chop while sitting on top of the 4h demand @ 0.72829 then a further move lower into daily demand starting at 0.72174.
Price Points of Interest:
4h supply @ 0.73655
Daily demand @ 0.72174
4h demand @ 0.71872
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Daily Trend: Down
4H Trend: Down
Price Analysis: After being stuck in a large range over the last 2 months, AUD has finally broken down into a downtrend.
Anticipated Move: Currently AUD is sitting on top of a 4h demand zone which is typically not a good sign for longs. I anticipatesome chop while sitting on top of the 4h demand @ 0.72829 then a further move lower into daily demand starting at 0.72174.
Price Points of Interest:
4h supply @ 0.73655
Daily demand @ 0.72174
4h demand @ 0.71872
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Note
AUDUSD weakened as expected. It is currently bouncing off daily demand. Ideally I would like to see 0.71872 reached first before taking a long, unless 4h supply zones begin to be removed.
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.
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.