AUDUSD short term sell before bull push
Updated
Hello Trader friends.
In AUDUSD this week we can see an area of support/resistance around the 0.648 area.
I believe this pair will enter retracement this week, before making a push to the upside to rejoin the trendline.
Hopefully this becomes more clear midweek as we can begin to see a "W" formation beginning and if it continues this pair could retrace to at least 0.631 before making a more bullish push to the 0.67 area.
I will be waiting to see what happens in the red ellipsis before continuing with a trade.
Please remain patient and react, don't try to predict.
To conclude, I foresee a short term sell at around the 0.648 and then onto a bullish run at 0.631.
Please share your views, like and comment and even give me a follow :)
Thanks, Roo.
Please note, I am not a professional trader and do not control the market. These are simple ideas based on what I see and what I have learnt. Risk is on you if you choose to follow as I cannot be responsible for your Forex account.
In AUDUSD this week we can see an area of support/resistance around the 0.648 area.
I believe this pair will enter retracement this week, before making a push to the upside to rejoin the trendline.
Hopefully this becomes more clear midweek as we can begin to see a "W" formation beginning and if it continues this pair could retrace to at least 0.631 before making a more bullish push to the 0.67 area.
I will be waiting to see what happens in the red ellipsis before continuing with a trade.
Please remain patient and react, don't try to predict.
To conclude, I foresee a short term sell at around the 0.648 and then onto a bullish run at 0.631.
Please share your views, like and comment and even give me a follow :)
Thanks, Roo.
Please note, I am not a professional trader and do not control the market. These are simple ideas based on what I see and what I have learnt. Risk is on you if you choose to follow as I cannot be responsible for your Forex account.
Note
UPDATE: 27th April 17:20Hi all
As we can see, AUDUSD has now entered the area of resistance, I will now be keenly waiting for the 1H and 4H charts for bearish signs.
Thanks, Roo
Note
Hello TradersNot much to report here
AUDUSD continues it's projected outcome and I look forward to it finding support.
I've added in more support zones as a few other AUDXXX pairs seem likely to fall greatly so I won't rule out the chances of that happening here!
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