Since the price lacks liquidity to take and above there is a lot, I can project a liquidity takeover that in turn would entail a break of bearish structure in high temporalities and with it a possible retreat to discounts to continue rising. Rsi closed above the orange level is a good confluence. Caution because even with this liquidity taking there is still a lot...
Guys, its time for the unconventional charting
Todays exhibit is a curved rising channel
A pattern that indicates an acceleration of the movement
Which in turn indicates that the move is in its final stages
However, this final stage might be powerful
Thus, I expect AUD_USD to go higher
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AUD/USD is in a channel grinding up to an important breakout area. Waiting for breakout or breakdown areas (as noted in chart). For now, I recommend a wait and see approach (sidelines).
The monthly view of this pair is very bullish
I draw inspiration from a brief analysis of AUD-USD to make some considerations on the moment we are living.
In recent weeks the world economy has been in difficulty because of Covid-19, however, from a rapid comparison of the data, we can see how the Australian economy has strengthened over the American one since the beginning of the year.
See bullish divergence occurring on the lower time frames on AUD_USD on both the MACD and in the form of a falling wedge. If we can get above the marked level we can expect a move to the .62350 area and then to the .63390 area.
Hello Traders, I am a new this week so I will try my best to post some ideas I can see
This pair is trending down in the daily consolidation so a Buy on the break seems like a good idea. It might be the last fews days to see result
Trade with care.
Thank you for your support.
5 Reasons to go short.
1:) Symmetrical Triangle Breakout
2:) 50% Fib level intersects with 14 day bearish trend-line and 7 day bullish trend-line that was recently broken which could create a triple threat of resistance.
3:) Expected resistance at .7200
4:) Bearish Cloud
5:) Why the hell not.
Entry @ .7195
SL @ .7128
TP @ .7100
Sorry for the...
This pair has been in consolidation on the daily which is the first sign of a reverse coming.
In addition, the RSI oscillator has actually started to trend lower after just touching upon the oversold level, which could imply some bearish activity ahead for the pair. The Stochastic Oscillator has also reached into reversal territory with some divergence also...