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Audusdsell

AUDUSD Be patient there's no other way then up from here. The aussie dollar broke the consolidation structure that it has been trading within since 20th July 2021. We expect price to rebound upwards from here while keeping in mind the likelihood of highly manipulative price action in this range. Price needs to retest the 0.700 level before it can start its reversal to the upside. BULL CASE Price to rebound from here and find resistance at the 0.724 level BEAR CASE Price continues to break down to test 0.70 but quickly rebounds to test 0.724
Long
by IkanBilisCapital
Fake out potentially incoming for the AUDUSD! Trade cautiously!The aussie dollar continues to trade in a random walk manner this week, building up pent up energy for the eventual breakout of the channel that is formed between 0.74270 and 0.72877. As areas of values on both sides continues to build up for stop loss hunting by the market makers, a whipsaw like action could potentially form before breaking up to the upside. BULL CASE We can continue to look for longs on this pair for a sustained move upwards as it is our opinion that any downside could be limited and short-lived. There are two possible ways this could happen. Firstly, it could break up immediately from these levels to find more upside or it could fake out to the bottom before shooting back up quickly to the upside. BEAR CASE If this week ends in a bearish red candle, it is likely to form some sort of pinbar reversal candle. Any downside should be capped and extremely short-lived.
Long
by IkanBilisCapital