WILL AUD TRUMP THE USD - SHORT TO LONG TERM ANALYSIS OF AUDUSD
AUDUSD HAS BEEN IN A IN A CLEAR UPTREND, DISPLAYING HIGHER HIGHS AND HIGHER LOWS WHICH LOOKS TO CONTINUE RISING AFTER POTENTIALLY MAKING A NEW HIGHER LOW FOLLOWED BY A FURTHER HIGHER HIGH.
WHAT THIS MEANS FOR SHORT TO MEDIUM TERM TRADERS IS THAT THERE COULD BE SHORTING OPPOURTUNITIES DOWN TO AROUND 0.7500, WHICH WILL BE EVIDENT FROM A BREAK OF THE DAILY DOUBLE TOP NECKLINE, DOWN TO DAILY SUPPORT 0.7650 AND OUTER TRENDLINE.
A BREAK OF DAILY SUPPORT 0.7650 AND OUTER TRENDLINE WILL TAKE PRICE DOWN TO 0.7500 WHERE I WILL BE LOOKING FOR LONGS TO MONTHLY RESISTANCE AT 0.8000. 0.8000 IS A INTERESTING PRICE AT ITS ALSO POINT A OF THE WEEKLY DECENDING TRENDLINE AND THE D1 FIB EXTENTION PRICE.
WHAT THIS MEANS FOR SHORT TO MEDIUM TERM TRADERS IS THAT THERE COULD BE SHORTING OPPOURTUNITIES DOWN TO AROUND 0.7500, WHICH WILL BE EVIDENT FROM A BREAK OF THE DAILY DOUBLE TOP NECKLINE, DOWN TO DAILY SUPPORT 0.7650 AND OUTER TRENDLINE.
A BREAK OF DAILY SUPPORT 0.7650 AND OUTER TRENDLINE WILL TAKE PRICE DOWN TO 0.7500 WHERE I WILL BE LOOKING FOR LONGS TO MONTHLY RESISTANCE AT 0.8000. 0.8000 IS A INTERESTING PRICE AT ITS ALSO POINT A OF THE WEEKLY DECENDING TRENDLINE AND THE D1 FIB EXTENTION PRICE.