Potential Long position coming up in the next week for AUDUSD
Looking at the Monthly chart, you can see how strong the AUD has become against the USD. We are currently breaking through the 50 and 21 day moving average. As of 8/29/2020 there is no sign of weakness. Now looking on the weekly chart or daily chart, I am anticipating a retracement back to one of the 2 levels marked on my chart. I will be waiting and watching for this retracement and price action at these key levels. Once I receive a buy signal from the price action I will be placing a buy and plan to hold for awhile and hope to find multiple entries as price continues an uptrend. This is my view. If you have comments, please share.
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.