AUDUSD 4hour Analysis October 16th, 2022
AUDUSD Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are still looking very bearish on AU going into this week.
We recently saw massive rejection from our 0.63200 zone and it is likely that AU will push to a new low before showing us structure.
If this happens we’ll have to remain patient and look for future structure.
Trade scenario 2: If price action pulls back to 0.63200 we will have another potential short opportunity.
Look for strong rejection and clear bearish price action to enter short.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are still looking very bearish on AU going into this week.
We recently saw massive rejection from our 0.63200 zone and it is likely that AU will push to a new low before showing us structure.
If this happens we’ll have to remain patient and look for future structure.
Trade scenario 2: If price action pulls back to 0.63200 we will have another potential short opportunity.
Look for strong rejection and clear bearish price action to enter short.
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