AUDUSD starting classically trained shoulder-head-shoulder. Great earning potential with low risk. If this analysis makes sense to you give me a like and share with your friends. Thank you and good trades !!!
Downtrend - S/L 0,76250, T/P 0.71500
Pivot: 0.7370 Most Likely Scenario: long positions above 0.7370 with targets @ 0.7475 & 0.7505 in extension. Alternative scenario: below 0.7370 look for further downside with 0.7345 & 0.7330 as targets. Comment: the RSI is bullish and calls for further upside.
Pivot: 0.7355 Most Likely Scenario: long positions above 0.7355 with targets @ 0.7425 & 0.7445 in extension. Alternative scenario: below 0.7355 look for further downside with 0.7335 & 0.7305 as targets. Comment: the RSI shows upside momentum.
Pivot: 0.7380 Most Likely Scenario: long positions above 0.7380 with targets @ 0.7445 & 0.7475 in extension. Alternative scenario: below 0.7380 look for further downside with 0.7355 & 0.7330 as targets. Comment: the RSI is mixed and calls for caution!.
Pivot: 0.7405 Most Likely Scenario: short positions below 0.7405 with targets @ 0.7330 & 0.7310 in extension. Alternative scenario: above 0.7405 look for further upside with 0.7445 & 0.7475 as targets. Comment: as long as the resistance at 0.7405 is not surpassed, the risk of the break below 0.7330 remains high.
Pivot: 0.7420 Most Likely Scenario: short positions below 0.7420 with targets @ 0.7355 & 0.7310 in extension. Alternative scenario: above 0.7420 look for further upside with 0.7445 & 0.7475 as targets. Comment: as long as 0.7420 is resistance, look for choppy price action with a bearish bias.
Looking on the hourly chart, we see an area of interest around the 73 even handle. It sure will be interesting to see how price behaves around this level after the market opens on Sunday night. If price continues it's march downward, a double bottom with some RSI divergence would lend quite a strong signal that it is now time to get long. A number of different...
Pivot: 0.7470 Most Likely Scenario: short positions below 0.7470 with targets @ 0.7380 & 0.7355 in extension. Alternative scenario: above 0.7470 look for further upside with 0.7505 & 0.7545 as targets. Comment: as long as 0.7470 is resistance, look for choppy price action with a bearish bias.
Wait for D points.
What do i really like in this trade? First of all i am taking this trade with the overall direction of the trend (Bullish), i have a nice Risk/Reward potential as you can see, i can even go for more but i dont like being greedy. Also i have price action confirmation in different time frames, like the 4hr and 6hr. but i am taking this trade in a 8hr time frame,...
wait D points.
Clear breakout and pullback. Target is included.
SUMMARY: The primary trend of AUD/USD is bullish on charts and price is trading below the trend line in its 30 min. chart. In 30 min. chart the price is sustaining above 200 day SMA and is taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 0.7626 and support at the level of 0.7565. If it breaks its...