Hey everyone and welcome to this new trading idea!
We are looking at the 4h timeframe AUDUSD chart. Price did form a bottom low and pushed up on Friday. The mentioned bottom is also a monthly low, which i will mark up in the comment section below. From this perspective i bought in the bottom area on the monthly bases.
I am looking for huge swings to the upside, as this week the monthly candle closes. Another confirmation for a bullish trend is the DXY on a major resistance and AUDUSD broke our 4h time frame trend line.
Wishing everyone success in this upcoming trading week and comment below your ideas about this pair!
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Price is in consolidation mode. Monthly candle closes tomorrow. A lot of support in this area.
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Patience is key! Price broke consolidation and is now on its way up.