AUDUSD may break .7000 Hello Traders,
It is possible that current upward momentum and poor economic numbers out of the US this week will carry the AUDUSD past the 2020 high. I expect price to break the .7000 range prior to making any significant draw-backs. Price has blown by Bearish Divergence set-ups multiple times in the past days and I expect this trend to continue until the .7000 range is reached.
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*The above is not investment advice but simply my analysis of the current market conditions*
Audusdtrade
Time to sell #AUDUSDThe AUDUSD has risen nicely since the slump to 0.55, now an opportunity for Sell.
The AUDUSD touches the average moving line 100 which is used as resistance and only a few days ago the AUDUSD responded downhill as soon as it touched that line.
Stochastic and RSI are relatively high, indicating the possibility of a trend change.
The AUDUSD is still considered a downtrend despite recent increases
Goal: 0.64
AUD/USD Potential Short Trade Idea - Institutional Order FlowIf we see a pullback, back into the yellow box when the new week opens, I will be most likely looking to short AUD/USD to take out the equal lows created that are marked up. This looks like a pretty solid setup, with it being on the daily chart.
**Education Purposed Only**
- Will
Changing market structureAfter breaking the capped trend line the market has pulled back and formed a bullish engulfing bar above this level.
The market has formed a higher high and higher low indicating the possible start of a bullish structure. Relying on one HH and HL is not enough for me so I will look to buy once another higher low has formed using price action. Take note that for now this chart is still greatly bearish until the said conditions have been met.
Conservative traders will wait for confirmation and aggressive traders enter at market price. There are a few interesting factors at play here to consider:
1. Fibonacci zone
2. Bullish engulfing bar
3. HH & HL
4. Aggressive traders can enjoy a low risk entry at current market price
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