AUD/USD Potential Bullish Play
Hey Traders,
Quickly want to add some ideas here, the DXY is likely to pullback a bit and create a potential daily lower high this week, if that happens AUD/USD & NZD/USD might be interesting for longs.
The weekly chart closed last week as a big low test candlestick pattern, rejecting the newly created demand zone at the weekly, the daily chart had a nice star formation and rejected the lows after taking out early longs. Price is likely to pullback towards our .618 / .75 retracement area. From there, we will be waiting for bullish 4hour price-action for longs.
Have a great day.
Best regards,
The NCFX Team
Quickly want to add some ideas here, the DXY is likely to pullback a bit and create a potential daily lower high this week, if that happens AUD/USD & NZD/USD might be interesting for longs.
The weekly chart closed last week as a big low test candlestick pattern, rejecting the newly created demand zone at the weekly, the daily chart had a nice star formation and rejected the lows after taking out early longs. Price is likely to pullback towards our .618 / .75 retracement area. From there, we will be waiting for bullish 4hour price-action for longs.
Have a great day.
Best regards,
The NCFX Team
Trade active:
Dear Traders,
Price tapped into the .618 retracement and at the same time the Dollar index is trying to make a daily lower high formation. If that lower high formation succeeds more AUD/USD is likely and the first target for me at this moment of time is 0.68.
Best regards,
The NCFX Team
Price tapped into the .618 retracement and at the same time the Dollar index is trying to make a daily lower high formation. If that lower high formation succeeds more AUD/USD is likely and the first target for me at this moment of time is 0.68.
Best regards,
The NCFX Team
Trade closed: target reached:
Hey Traders,
Price reached the Target of 0.68 which is a major psychological level for this pair, due to it being -0.27 fib target and the weekly + daily bearish trendline.
If you decide to push it furter based on the bullish looking weekly chart, make sure to take some profits, the dxy is also sitting at .382 daily retracement + the huge bullish trendline so it will be an interesting week.
Best regards,
The NCFX Team
Price reached the Target of 0.68 which is a major psychological level for this pair, due to it being -0.27 fib target and the weekly + daily bearish trendline.
If you decide to push it furter based on the bullish looking weekly chart, make sure to take some profits, the dxy is also sitting at .382 daily retracement + the huge bullish trendline so it will be an interesting week.
Best regards,
The NCFX Team