AUDUSD Strong Buy
Strong Buy AUDUSD!
Entry after a pullback in the area of 0.6720 and stop below 0.6665. The projection results in a target at 0.6900. (174 Pips)
Risk/Reward: 3.26
Reasons: Weekly Delta Positive and rising.
Lots of dormant liquidity in the area above 0.6900
Furthermore, the seasonal trend for the next 2 weeks shows strong support for the AUD!(5y)
Plus Lots of short traders trapped with stops in the 0.7150 area, which shows much higher potential for longer term positions in AUDUSD.
All of this would be confirmed if the AUD can establish itself above 0.6900
Entry after a pullback in the area of 0.6720 and stop below 0.6665. The projection results in a target at 0.6900. (174 Pips)
Risk/Reward: 3.26
Reasons: Weekly Delta Positive and rising.
Lots of dormant liquidity in the area above 0.6900
Furthermore, the seasonal trend for the next 2 weeks shows strong support for the AUD!(5y)
Plus Lots of short traders trapped with stops in the 0.7150 area, which shows much higher potential for longer term positions in AUDUSD.
All of this would be confirmed if the AUD can establish itself above 0.6900
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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.
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.