AUDUSD Neutral Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: The 4hour timeframe on AU is still looking bullish while the higher timeframes are still technically bearish.
We are at a key resistance level around 0.72500 so we will look for reactions going forward.
For us to continue bullish we would need to see a break above 0.72500 with a confirmed higher low above. Look to target higher toward 0.74000
Trade scenario 2: For us to consider AU for short scenarios we would first need to see a break of this 4hour bullish channel.
Look for price action to break lower and form new structure below 0.72000. Continue looking for shorts as price action develops. Consider only entries on lower highs.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: The 4hour timeframe on AU is still looking bullish while the higher timeframes are still technically bearish.
We are at a key resistance level around 0.72500 so we will look for reactions going forward.
For us to continue bullish we would need to see a break above 0.72500 with a confirmed higher low above. Look to target higher toward 0.74000
Trade scenario 2: For us to consider AU for short scenarios we would first need to see a break of this 4hour bullish channel.
Look for price action to break lower and form new structure below 0.72000. Continue looking for shorts as price action develops. Consider only entries on lower highs.