Hello, traders around the world.
My approach to this setup is saying that the price has almost fallen in the past week now it can go more bearish after breaking the support.
If anyone has any ideas or thoughts you can freely share them with me.
We can see that the pair is in a very bullish position so it is
better to trade in the long direction.
wait for the price to retest then gather
some confirmation before going long.
Note that if price breaks the trendline then it will go short.
Trend is little spiky but still it is trade able
Now the price has break the level so we are anticipating that
price will go up and touch the resistance.
If price breaks from upside then get ready
for a long term uptrend.
Aussie dollar is in an uptrend but there is an opportunity for
short term traders.
If the price breaks the level from downside it can go for a down move.
But it can also retrace from the level so be aware of it.
Get ready for sell
as the pair has been in a sell position
on the monthly timeframe as well.
* This is not an investment advice just for education,
* Our work is to give you the best-est possibilities and probabilities about markets,