AUDUSD Reversal to retest broken trendline
AUDUSD broke out of a major trendline, and took a deep fall with little retracement. Price met support at the retest of a weekly trendline, and is now showing a reversal pattern. If this next 4H candle closes as a pinbar, then that is the signal to enter long at its close. Stop loss should be set to .73248. Target .7715
Note
Pin bar created close to the lows. Buy signal with a stop loss at .7290. First target .7500
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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.