AUDUSD BULLISH moment on the way...

7 ต.ค. 2023

AUDUSD is a forex instrument that has 5.4% of trading volume.
AUDUSD have been consolidatiing in the rectangle for past 2 month. It break to the downside but proved to be a fakeout. and market reversed and ended up back in channel.
AUDUSD is expected to be bullish for next week.

Reason:

1. Fakeout and very nice volume comeback to channel.
   
2. Price > 5 EMA >13 EMA
   
3. Bullish pattern formation after fakeout. right time to make position.
   
4. RSI > 50 Bullish Zone.
   

Verdict:
Bullish for next Week

Plan of action:
Buy: 0.63835 (after retrace)
SL: 0.63508
Target: 0.64941