AUDUSD Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: AU is definitely bearish at the moment and looks to be continuing that way. We recently saw a lower timeframe transition form where we placed our random line. This also confirms the lower high below our weekly at 0.76000.
From here we’re looking to target lower toward major support levels.
Trade scenario 2: For us to consider AU bullish we need to see a higher low above 0.76000 with strong bullish setups. Until we see this happen we’re remaining bearish.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: AU is definitely bearish at the moment and looks to be continuing that way. We recently saw a lower timeframe transition form where we placed our random line. This also confirms the lower high below our weekly at 0.76000.
From here we’re looking to target lower toward major support levels.
Trade scenario 2: For us to consider AU bullish we need to see a higher low above 0.76000 with strong bullish setups. Until we see this happen we’re remaining bearish.