The AUDUSD is trading sideways in an upward sloping channel (5 min)
After a false breakout higher it is now on the verge of breaking the channel downwards,
I am liking a sell trade on the break with take profit next hourly support @ 0.7750 (roughly 50 pips)
I wish you all a happy new month and good luck trading!
The EURAUD is in a downtrend (60min chart) and is currently under a retracement.
The retracement was expected since last week we observed positive/ bullish divergence between price and RSI indicator.
This can mean two things;
A. There will be a change of ...
Reasons to be long the AUDNZD
1. Bullish Divergence between Price and RSI
2. Down Trend line break upwards.
3. Bullish TK Cross
4. Price trading above the cloud
5. RSI above 50
Targeting weekly pivot 1.04500