Today, the AUD/USD pair experienced an unexpected downturn during the closing hours, likely influenced by political rumors involving Biden and Trump. Despite this dip, the recent breach of the support zone is identified as a false breakout, and the overall trend remains bullish.
Entry Point: Buying at 0.6672
Stop Loss: 0.6622Take
Profit: 0.6740
Key Insights: Market Sentiment: The trend remains bullish, indicating strong upward momentum. Support Zone: Price broke through the 0.6715 and 0.67 support levels, but these breaks are identified as false breakouts. A false breakout happens when the price temporarily moves beyond a support or resistance level but then quickly reverses direction, indicating that the breakout did not hold. Strategic Positioning: Do not short the pair for the long term. The overall bullish trend suggests that upward momentum will continue, making buying a preferable strategy.
Entry Point: Buying at 0.6672
Stop Loss: 0.6622Take
Profit: 0.6740
Key Insights: Market Sentiment: The trend remains bullish, indicating strong upward momentum. Support Zone: Price broke through the 0.6715 and 0.67 support levels, but these breaks are identified as false breakouts. A false breakout happens when the price temporarily moves beyond a support or resistance level but then quickly reverses direction, indicating that the breakout did not hold. Strategic Positioning: Do not short the pair for the long term. The overall bullish trend suggests that upward momentum will continue, making buying a preferable strategy.
Order cancelled
Today Joe Biden stepped out of the presidential election, which now it is very likely that secures Trump as the next president by November , which means the US dollar is not bullish, this trade is not active, close at 0.668 , join the usdcad trade we will be taking on Wednesday.
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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.
My free signals
t.me/+pknBOliLTkI1Mjk5
Contact me
t.me/Eleazarahmath
Twitter
x.com/Elitepipmaster
t.me/+pknBOliLTkI1Mjk5
Contact me
t.me/Eleazarahmath
x.com/Elitepipmaster
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.