Potential AUDUSD Buy Swing Position 160+ Pips
Good Morning Traders, ForexFargo checking back in
Today our analysis is on AUDUSD. The overall trend is Bearish for sure. However I see a potential set up for start of next week if price continues Bearish toward of Support Level.
Price on this pair has been consolidating for the past 5 weeks, ranging mainly between support and resistance.
Weekly Resistance Level set at 0.72350.
Weekly Support Level is set at 0.70750.
I believe that price will continue toward of weekly support levels by end of week or beginning of next week.
When price gets at that level of support... I will wait for a strong Bullish candle on the minor timeframes to indicate a good position.
Entry @ 0.70750
Exit @ 0.72350
Stop Loss @ 0.70450
As always, thanks for the support!
Good Trading!
-ForexFargo
Today our analysis is on AUDUSD. The overall trend is Bearish for sure. However I see a potential set up for start of next week if price continues Bearish toward of Support Level.
Price on this pair has been consolidating for the past 5 weeks, ranging mainly between support and resistance.
Weekly Resistance Level set at 0.72350.
Weekly Support Level is set at 0.70750.
I believe that price will continue toward of weekly support levels by end of week or beginning of next week.
When price gets at that level of support... I will wait for a strong Bullish candle on the minor timeframes to indicate a good position.
Entry @ 0.70750
Exit @ 0.72350
Stop Loss @ 0.70450
As always, thanks for the support!
Good Trading!
-ForexFargo
Trade active
Comment:
HAS BEEN 4 DAYS THROUGH ALL THIS NOISE.. WAITING FOR US TO HIT AND BREAK THROUGH OUR NEXT SUPPORT LEVEL @ .71000
Trade active:
price now approaching .72000 area pre-syndey session which is a great indication that we will continue bullish since we have broken our .71500 resistance level
