AUD/USD Multi-Timeframe analysis

Hi Traders

AUD/USD Multi-Timeframe analysis

H1 CHART

A very low probability, entry signal to go LONG was given at 0.77726 after the market completed a bear trap reversal pattern. Only the downward break of 0.77215 would cancel the bullish scenario.

Support & Resistances
0.77578 0.77737
0.77234 0.77868
0.77058 0.78044

H4 CHART

A low probability, entry signal to go LONG was given at 0.77726 after the market found support at 0.77215 . Only the downward break of 0.77215 would cancel the bullish scenario.

Support & Resistances
0.77552 0.77708
0.77119 0.78044
0.75630 0.78522

DAILY CHART

The market is approaching the resistance at 0.78193 . We are waiting to see reversal signals in order to reinstate SHORT positions. Next important resistance is the 0.79418 level.

Support & Resistances
0.77879 0.78193
0.76654 0.79418
0.75630 0.80442

WEEKLY CHART

Waiting for a retracement lower towards the 0.74128 support level, in order to reinstate LONG positions. Next important support is the 0.69903 level.

Support & Resistances
0.74128 0.78193
0.69903 0.80846
0.55060 0.87733

Trade active:

Target 1 at 0.78522 has been reached. We closed 50% of our position and have moved the stop loss at the lock-in-profits level at 0.77726 . Provided the market conditions will remain the same Target 2 will be reached soon.