AUD/USD Trade Analysis: Key Levels to Watch
Currently, the AUD/USD pair is trading within a defined range. Observing the price action, we have key levels that could determine our next move.
1. Break Above 0.6610:
- Should the price break above the 0.6610 level, we will need to wait for a retest around 0.6635 before considering a sell position. This level aligns with previous resistance and will give us a better risk-to-reward ratio.
2. Break Below 0.6590:
- Conversely, if the price breaks below the 0.6590 level, it is likely to continue down to our entry point at 0.6580, which coincides with the recent wick lows. This break would indicate a bearish continuation.
Target and Stop-Loss:
- Our target price (TP) is set at 0.6652, which aligns with the previous resistance level and the 50% Fibonacci retracement level, providing a strong confluence for our take-profit zone.
- The stop-loss (SL) is positioned at 0.6540, safeguarding our position should the market move against us.
Recent Performance:
- Yesterday, we successfully executed a trade on this pair, which was shared on Minds, yielding excellent results.
Stay vigilant and wait for confirmation before entering any trades.
1. Break Above 0.6610:
- Should the price break above the 0.6610 level, we will need to wait for a retest around 0.6635 before considering a sell position. This level aligns with previous resistance and will give us a better risk-to-reward ratio.
2. Break Below 0.6590:
- Conversely, if the price breaks below the 0.6590 level, it is likely to continue down to our entry point at 0.6580, which coincides with the recent wick lows. This break would indicate a bearish continuation.
Target and Stop-Loss:
- Our target price (TP) is set at 0.6652, which aligns with the previous resistance level and the 50% Fibonacci retracement level, providing a strong confluence for our take-profit zone.
- The stop-loss (SL) is positioned at 0.6540, safeguarding our position should the market move against us.
Recent Performance:
- Yesterday, we successfully executed a trade on this pair, which was shared on Minds, yielding excellent results.
Stay vigilant and wait for confirmation before entering any trades.
Order cancelled:
Price did not hit entry
Comment:
Wait for the news before you enter
Trade active:
Enter
Trade closed: target reached:
Close profits early, 25 pips
We plan to sell at 0.6665, leveraging the 61.8% Fibonacci retracement level.
The overall trend is bullish right now, but the bulls getting weaker base on the 100 ema
Sell Entry: 0.6665
Take Profit (TP): 0.6595
Stop Loss (SL): 0.6710
Stay disciplined and follow the plan for optimal results.