globalfxkingz

AUD/USD POTENTIAL BREAKOUT WATCH

OANDA:AUDUSD   Australian Dollar / U.S. Dollar
as we can see here on the AUD/USD chart price has been trending sideways between the 2 major pink support and resistance levels for a little while now. previously price has come down to test the support level but however has broken past it, as a fake-out, to then move back to the upside to the previously trending area, before it broke out. now we can see that price is at a previous consolidation level where it before had a breakout to the upside. at this level, we should be looking for price to break through the top or bottom support and resistance levels before placing a buy or a sell. so with strong signs of momentum through a candle breakout and either other uses of confirmation, we should wait patiently and see how we can approach this market scenario.
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