AUDUSD 30min Analysis February 4th, 2021
Price is still respecting our 30 min 200MA as resistance and we are looking for further downside.
Trade Scenario 1: Bearish - For us to go short we want to see further rejection off the 30min 200MA. We will look to enter on strong bearish setups around .7630. First targeting previous lows of .7580
Trade Scenario 2: Bullish - For us to go long we need to see price break above our key structure zone of .7660. We will then wait for a clear HL to form before looking long.
Trade Scenario 1: Bearish - For us to go short we want to see further rejection off the 30min 200MA. We will look to enter on strong bearish setups around .7630. First targeting previous lows of .7580
Trade Scenario 2: Bullish - For us to go long we need to see price break above our key structure zone of .7660. We will then wait for a clear HL to form before looking long.
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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.