AUDUSD Structural S/R| Dynamic Support| Swing High| Price Action

16 ต.ค. 2020

Evening Traders,

Today’s Analysis – AUDUSD – trading above key structural S/R, holding this level will allow for further upside momentum.
Points to consider,
- Bullish Price Action
- Structural S/R Support
- Swing High Target
- Oscillators Divergence
- Low Volume

AUDUSD’s immediate price action is being accepted above a key level, price acceptance allow us to have a bullish bias on the market.

Breaking the structural S/R bearish will negate our bullish bias in the immediate short term.

The Swing high is immediate target, exceeding this level will increase the probability of a trade continuation.

Both oscillators are currently neutral; breaking back into bullish control territory will increase the probability of strength in the market.

Volume is currently below average, an influx is highly probable when testing the dynamic support as this is the next trade location

Overall, in my opinion, AUDUSD is a valid long with defined risk; price action is to be used upon discretion/ management of trade.

Hope this analysis helps

Thank you for following my work!

And remember,

“Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager