Zanchy

AUDUSD: WILL IT RISE AGAIN?

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
LONG trade analysis on AUDUSD.

Graph is looking bullish from lower trendline. Price is currently located at support area as well, so i expect it will rise soon. Trade idea is also shown on RSI indicator.

If you liked this idea or if you have your own opinion about it, feel free to write in the comments.

Comments

You can always re angle a trendline this is a faulty way to judge the market from
+2 Reply
Zanchy Donajor8
@Donajor8, Thanks for sharing your opinion with us. But i must let you know that i drew this trendline like 5months ago - at the 2.nd touch of lower trendline, so i would not say so. Today price perfectly touched my trendline and instantly bounced upwards. Its located at strong support area too, meaning potencial reversal trend. And this analysis is according to others as well (AUDJPY, EURAUD). So my perspective at the end is not changed.
+2 Reply