AUDUSD | Which way are we heading?
#AUDUSD 2H
This pair has been moving with a strong upside momentum since the 25th May.
We have witnessed a sharp pullback to the supporting trendline last week, and the pair has bounced aggressively from the trendline.
Furthermore, the pair is currently at a critical decision area, with multiple support and resistance in both directions. The price is getting sandwiched between a MINOR bearish trendline and a MAJOR bullish trendline.
For this week, we want to see a break out from this area for us to enter a trade in a certain direction.
If AUDUSD manages to break and closes a 4H candle above the MINOR bearish trendline, then this will activate our Bullish Scenario
On the other hand, if we see a sharp bearish candle and a breakdown with a 4H candle close below the MAJOR bullish trendline, then this will activate our Bearish Scenario
📰 Economical News to watch for:
1) U.S. Core Retail Sales m/m
2) U.S. Retail Sales m/m
3) U.S. Fed Chair Powell Testifies
4) U.S. Building Permits
5) AUD Employment Change
6) AUD Unemployment Rate
7) U.S. Unemployment Claims
⚠️ Risk ONLY: 2-3%
Good Luck!
For more continuous updates, please join our FREE telegram channel (link below)
This pair has been moving with a strong upside momentum since the 25th May.
We have witnessed a sharp pullback to the supporting trendline last week, and the pair has bounced aggressively from the trendline.
Furthermore, the pair is currently at a critical decision area, with multiple support and resistance in both directions. The price is getting sandwiched between a MINOR bearish trendline and a MAJOR bullish trendline.
For this week, we want to see a break out from this area for us to enter a trade in a certain direction.
If AUDUSD manages to break and closes a 4H candle above the MINOR bearish trendline, then this will activate our Bullish Scenario
On the other hand, if we see a sharp bearish candle and a breakdown with a 4H candle close below the MAJOR bullish trendline, then this will activate our Bearish Scenario
📰 Economical News to watch for:
1) U.S. Core Retail Sales m/m
2) U.S. Retail Sales m/m
3) U.S. Fed Chair Powell Testifies
4) U.S. Building Permits
5) AUD Employment Change
6) AUD Unemployment Rate
7) U.S. Unemployment Claims
⚠️ Risk ONLY: 2-3%
Good Luck!
For more continuous updates, please join our FREE telegram channel (link below)