AUDUSD Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: The 4hour timeframe is now in a very strong bullish trend and looks like we could confirm a daily bullish trend as well if price action forms a higher low above 0.74000.
Look for the higher low to confirm and enter on strong bullish setups. Look to target higher toward resistance around 0.75000
Trade scenario 2: If we are to consider AU bearish we would need to see a break back below 0.74000 with a lower high below.
If this does happen that means this recent break could be a large fakeout!
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: The 4hour timeframe is now in a very strong bullish trend and looks like we could confirm a daily bullish trend as well if price action forms a higher low above 0.74000.
Look for the higher low to confirm and enter on strong bullish setups. Look to target higher toward resistance around 0.75000
Trade scenario 2: If we are to consider AU bearish we would need to see a break back below 0.74000 with a lower high below.
If this does happen that means this recent break could be a large fakeout!
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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.