AUDUSD - Bearish Correction Broken - Bulls Control Near Term
Greetings Fellow Traders,
The most recent channel created by AUDUSD has finally been confirmed to be broken by the bulls on the 4 hour chart. From here it is likely that AUDUSD will continue rising to meet sellers that are camped at the .7380 area. Should price reverse from those levels or lower it will have a good chance at breaking a weekly consolidation structure for a bearish break out.
For the moment though, my focus remains on the most current break pictured. Keep an eye on Daily Closes back within this trend and the lower time frames for a more precise entry, At the very latest a new high from those pictured on the current move will add significantly more momentum.
If you have any questions or enjoy what you see. Feel free to like, comment or follow.
The most recent channel created by AUDUSD has finally been confirmed to be broken by the bulls on the 4 hour chart. From here it is likely that AUDUSD will continue rising to meet sellers that are camped at the .7380 area. Should price reverse from those levels or lower it will have a good chance at breaking a weekly consolidation structure for a bearish break out.
For the moment though, my focus remains on the most current break pictured. Keep an eye on Daily Closes back within this trend and the lower time frames for a more precise entry, At the very latest a new high from those pictured on the current move will add significantly more momentum.
If you have any questions or enjoy what you see. Feel free to like, comment or follow.
Comment:
Daily Close confirmed past trend line as well
