AUDUSD Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Overall AU has been bearish on major timeframes but we recently saw the 4hour timeframe turn very bullish.
Currently price action is resting near 0.68500 resistance and we’re waiting for reactions.
Ideally, if price action is to continue bullish we need to see a significant higher low above 0.68500.
Trade scenario 2: If price action reverses at 0.68500 we will look for strong bearish confirmations to enter short on. Look to target lower toward 0.67750 followed by 0.67000
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Overall AU has been bearish on major timeframes but we recently saw the 4hour timeframe turn very bullish.
Currently price action is resting near 0.68500 resistance and we’re waiting for reactions.
Ideally, if price action is to continue bullish we need to see a significant higher low above 0.68500.
Trade scenario 2: If price action reverses at 0.68500 we will look for strong bearish confirmations to enter short on. Look to target lower toward 0.67750 followed by 0.67000