AUDUSD Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Overall we are bullish on higher timeframes but the 4hour has been stuck in a range for weeks. More recently we’ve been seeing price action hint at breaking lower but nothing has been confirmed yet. Ideally we want to see a lower high below 0.77150, at the very least. Look to target lower toward our 0.76000.
Trade scenario 2: If price action fails to break the range look for our resistance near 0.78000 to be tested. It’s very likely this will happen if we don’t break here.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Overall we are bullish on higher timeframes but the 4hour has been stuck in a range for weeks. More recently we’ve been seeing price action hint at breaking lower but nothing has been confirmed yet. Ideally we want to see a lower high below 0.77150, at the very least. Look to target lower toward our 0.76000.
Trade scenario 2: If price action fails to break the range look for our resistance near 0.78000 to be tested. It’s very likely this will happen if we don’t break here.