AUDUSD 4hour Analysis December 4th, 2022
AUDUSD Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are looking very bullish on AU and we can see a wedge pattern forming at this recent high.
Going into this week we’re looking for the bullish trend and pattern to continue. Ideally we see some good rejection off 0.67000 support and can target higher resistance levels.
Trade scenario 2: For us to see AU as more bearish we would need a break back below 0.67000 with some convincing lower highs below.
Look to target lower toward 0.65500 if this happens.
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: We are looking very bullish on AU and we can see a wedge pattern forming at this recent high.
Going into this week we’re looking for the bullish trend and pattern to continue. Ideally we see some good rejection off 0.67000 support and can target higher resistance levels.
Trade scenario 2: For us to see AU as more bearish we would need a break back below 0.67000 with some convincing lower highs below.
Look to target lower toward 0.65500 if this happens.
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