Hello Traders!,
Hope everyone has had a good start to the week! The market is full of opportunities this week and today we're looking at a possible BUY opportunity for AUD/USD
What Is The Market Telling Us?
Hope everyone has had a good start to the week! The market is full of opportunities this week and today we're looking at a possible BUY opportunity for AUD/USD
What Is The Market Telling Us?
- We can see price has been ranging between our channel while making higher lows off our trendline support
- Bullish MA crossover adds confluence to our BUY bias as we await a breakout of our channel
- Retracement phase seems to be over due to bullish engulfing candle on the D1 timeframe
- In this scenario we are looking for a breakout of our channel followed by a retest/retracement, once we have bullish confirmation, we look for BUYS
- Our channel resistance may hold and bring us back down to our channel support, if this occurs, look for short-term BUYS off channel support