AUDUSD Neutral Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are bullish on all significant timeframes but we can clearly see price action is stuck within a wide range between 0.78000 & 0.77150. Currently we are at support and are expecting some bullish volume to push price action back toward the top of the range. You can play the range or wait for a break of the range. The most conservative entry would be on a confirmed higher low above 0.78000.
Trade scenario 2: For us to consider AU bearish we really need to see a lower high below 0.77150. The best entry would be on a lower high below 0.77150 with fib confluence. Target lower toward major support levels.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are bullish on all significant timeframes but we can clearly see price action is stuck within a wide range between 0.78000 & 0.77150. Currently we are at support and are expecting some bullish volume to push price action back toward the top of the range. You can play the range or wait for a break of the range. The most conservative entry would be on a confirmed higher low above 0.78000.
Trade scenario 2: For us to consider AU bearish we really need to see a lower high below 0.77150. The best entry would be on a lower high below 0.77150 with fib confluence. Target lower toward major support levels.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.