The price perfectly fulfilled my last idea, and it went down to support and hit the target. FX:AUDUSD broke through the range zone and made new extension up. It bounced off the key support level at 0.65000. I think if the market pulls back to the support zone and makes a fake break at support, then price may go up because price is gaining bullish momentum by updating swing highs. What we have here is that the market formed a range zone, then took liquidity below the zone, and now it's heading toward the next resistance. My goal is the resistance zone at 0.65700
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
AUDUSD tend to do these whide 50p channels where oscilates a lot, the daily oscilators says that is longing due long period of oversold, but usualy if you see the daily chart since beginings of '22 even before that, you notice a pattern where all long periods of oversold or overbought when they reach the center, they go lateral. I belive we are going to experience it the next week a zigzag market, likely to reach more shorts, lets see...
Lingrid
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@kjzsbtby, thanks for sharing your opinion, interesting!
jazzjabr93
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im watching it as we speak looks like is started hitting resistance. are you trying to short it back to 0.65700 ?