AUDUSD - Waiting for Pullback - TREND-CONTINUATION TradeHi Traders!
As you can see the market is in an uptrend.
The market started rallying since it was at 0.55000.
After that the market went up.
But, why is it in an uptrend?
Actually, the market was not in an uptrend until it broke the resistance at 0.62000.
Until than, the picture was like that:
- Overall market in a downtrend,
- market now consolidating,
- waiting for trend continuation.
But then the market broke this level, so the picture is now:
- Market in a fresh uptrend,
- just broke the level,
- waiting for a retest,
- making profits in trend continuation.
We recommend to buy the successful retest of the breakout!
Thanks and good luck :)!
