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AUD/USD is bullish on daily chart, however price now faces first major resistance of descending trend line and MA 200 on weekly chart. This could trigger down movement for this pair if price is...
The counter has formed a gramophone pattern.
It has hit the upper trendline and is coming down with strong momentum.
We advise traders to go short when the pair breaks the support level of 0.71745 and expect a sell-off to lower trendline.
AUDUSD market structure is bullish. Price is also above the 100-period EMA on the 4H Chart. Price bounced up from the previous low. It is likely that the uptrend may continue to 0.7220.
I have already bought at 0.7100 and would be looking to add more buys if the price dips towards the buy area again. My TP is 0.7220 and SL is at 0.7047. Expecting a continuation...
- Price reaching our current Higher High, we can see that the price is overextended and overbought.
- The best to do now is to wait for a lower timeframe confirmation of a reversal and enter then.
- If price breaks this level, ket the price consolidate first before entering long.
- Preço a alcançar o nosso higher high atual, podemos também ver...
AUDUSD has been in decent uptrend of late and what we have now is a small bullish pattern continuation setup in the form of a bullish 3 drive pattern.
If USD weakness remains we could see the higher inner trend line break to the upside which can help confirm the patterns strength for some short term gains. If the trend line does break we could take a momentum...
This analysis for AUDUSD on time frame 4 Hours.
We wait retracemment till entry point than we can entry "BUY"
YELLOW - ENTRY
GREEN - TAKE PROFIT
RED - STOP LOSS
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Trading the 1 hr but entered on the 15 min. Price broke a level of resistance and has held above it leaving wicks on the 1 hr. Wish I could have entered at the level that seems like it creating a support. Also see a double bottom on the 15 min, which is a good confluence. 1-3RR trade of course. Move SL to break even once it gets 12 pips in profit or hits my 1-1 target.
Plan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent...
My bias for the week on the particular pair is bullish based on the undershoot that is currently happening around this area, I expect more buys as price breaks above the level indicated by the white line on the chart.
AUDUSD Analysis update : price is currently buying from support zone price 0.60062 we are expecting price to reach resistance zone price 0.70213 After testing new support zone price 0.63085 long term buy daily time frame📈📉