Hello traders!
Here are my thoughts on AUD/USD.
I've prepared two possible scenarios that can happen in near future.
1) As you can see, price has turned bearish on the Daily timeframe, but on the W we are still in uptrend, which means that I will be looking for long setups only. From short-term perspective price can drop to 0.73280 area, which is also 0.61 fib zone. I would expect the drop to that area but not lower, that would mean that we are no longer in bullish trend on the W and we should look for sells.
2) As I said, on the W timeframe we are still in uptrend, a great long setup would be if price got above daily structure marked on the chart, then I would wait for a retest an enter a long trade.
MACD and MA still shows uptrend momentum.
📈📉Trends:
⏳ Weekly- Bullish
⌛️ Daily- Bearish
🟣 Purple zone - Weekly key level
🔵 Blue zone - Daily key level
Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨👩👧👦
Have a wonderful and profitable day! ❤️
- ProfitalzTrading
Here are my thoughts on AUD/USD.
I've prepared two possible scenarios that can happen in near future.
1) As you can see, price has turned bearish on the Daily timeframe, but on the W we are still in uptrend, which means that I will be looking for long setups only. From short-term perspective price can drop to 0.73280 area, which is also 0.61 fib zone. I would expect the drop to that area but not lower, that would mean that we are no longer in bullish trend on the W and we should look for sells.
2) As I said, on the W timeframe we are still in uptrend, a great long setup would be if price got above daily structure marked on the chart, then I would wait for a retest an enter a long trade.
MACD and MA still shows uptrend momentum.
📈📉Trends:
⏳ Weekly- Bullish
⌛️ Daily- Bearish
🟣 Purple zone - Weekly key level
🔵 Blue zone - Daily key level
Don’t forget to let me know your opinion on this in the comment section below! 💬 Sharing is caring! 👨👩👧👦
Have a wonderful and profitable day! ❤️
- ProfitalzTrading
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