AUDUSD forecast - location - setup
Two possible scenarios for this week:
- Green arrow: Price tested an old and strong weekly support but USD is not strong enough to break it definetively; rebound up to channel line.
- Red arrow: support is no more valid; bear shooting star formed on friday and moving averages are going south. Enter below 0.71300 and keep open for a while.
A lot of news are expected this week so look at US index and price action at lower timeframes.
Two possible scenarios for this week:
- Green arrow: Price tested an old and strong weekly support but USD is not strong enough to break it definetively; rebound up to channel line.
- Red arrow: support is no more valid; bear shooting star formed on friday and moving averages are going south. Enter below 0.71300 and keep open for a while.
A lot of news are expected this week so look at US index and price action at lower timeframes.
Trade active:
Green arrow scenario in progress.
SL moved to break even
SL moved to break even
Trade closed: target reached