FOREX AUDUSD LONG
AUDUSD appears to have formed a fakeout at the lower end of the range. This suggests that traders who entered short positions when support was broken are now either closing their positions or adding to their losing trades to avoid liquidation. This dynamic could fuel the price toward 0.64, where the 21-week exponential moving average is located.
I'm watching for the price to reach the nPOC zone. However, if the price finds support around the 21-day EMA within the next 1–2 days, I plan to enter with half of my position.
I'm watching for the price to reach the nPOC zone. However, if the price finds support around the 21-day EMA within the next 1–2 days, I plan to enter with half of my position.
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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.