Hello and welcome to my Trade Idea of the currency pair AUD/USD:
Lets start with the Top Down Analysis.
Monthly: Overall bearish, so we look for short Trades.
Weekly: The trend retraced itself after touching the weekly support. Now I think the retrace is complete.
Daily: We see a Trendline and again overall bearish momentum.
H4: We recognize a Resistance Area and a Trendline, which confirm that the trend will most likely turn around.
Lets start with the Top Down Analysis.
Monthly: Overall bearish, so we look for short Trades.
Weekly: The trend retraced itself after touching the weekly support. Now I think the retrace is complete.
Daily: We see a Trendline and again overall bearish momentum.
H4: We recognize a Resistance Area and a Trendline, which confirm that the trend will most likely turn around.
Trade active
Trade closed: target reached