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🟢Forex Pair: AUD/USD
⚪Technical Analysis: Since the 4th of February 2021, the price has been following a strong uptrend, as we can see in the chart, the price got a really interesting bullish impulse on the level 0.75900. On the 9th of February, the price broke through its main trendline and since that moment it started moving creating on every wave higher lows and higher highs. This pattern could be an interesting trend correction before getting a new trend continuation.
🔴Conclusion: The price is moving between the resistance zone at about 0.77900 and its main trendline. Considering that the resistance zone worked very well in the past, I'm confident to see a new upcoming rejection. A new pullback on the trendline or a proper breakout of the current level will be my possibile entry point on this long trade.
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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
@TopTradingSignals, Hi guys, thanks for your comment, in my opinion there is too much risk to open a long trade at 0.77666, I'd wait a closing price at 0.78000 to have a confirmation of the resistance breakout (eventually it will break through it).