Market Instrument: AUDUSD
Timeframe: H4
Analysis: Technical
Structure: breakout and Retracement on Support
Prediction: Bullish
Price for AUDUSD is following a bullish sentiment where the price managed to form higher lows and ladder up. The support level has already been breached with a bullish take-off and got pulled back close to the highlighted area. We can see an attempt for a bullish reversal formation inside the circled area at the moment of analysis is made. If the bullish sentiment remains stronger than bears we may see a push back up close or above the 61% of fib levels...
Timeframe: H4
Analysis: Technical
Structure: breakout and Retracement on Support
Prediction: Bullish
Price for AUDUSD is following a bullish sentiment where the price managed to form higher lows and ladder up. The support level has already been breached with a bullish take-off and got pulled back close to the highlighted area. We can see an attempt for a bullish reversal formation inside the circled area at the moment of analysis is made. If the bullish sentiment remains stronger than bears we may see a push back up close or above the 61% of fib levels...