AUDUSD Long Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are bullish but we are seeing a bit of consolidation occur above support at 0.77000. If we are to continue with the bullish trend we will be looking for strong bullish reversal signals off this support level. Look to target higher toward key resistance. Once 0.78000 is hit, re-analyze and wait for a break and bounce.
Trade scenario 2: For us to consider AU bearish we need to first see a break and retest of 0.76850 with a confirmed lower high below. Look to enter short on strong bearish confirmations and target lower toward support around .76000
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are bullish but we are seeing a bit of consolidation occur above support at 0.77000. If we are to continue with the bullish trend we will be looking for strong bullish reversal signals off this support level. Look to target higher toward key resistance. Once 0.78000 is hit, re-analyze and wait for a break and bounce.
Trade scenario 2: For us to consider AU bearish we need to first see a break and retest of 0.76850 with a confirmed lower high below. Look to enter short on strong bearish confirmations and target lower toward support around .76000