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forexwithfred

AUD/USD - 0.7000 Level Broken! Waiting For A Retest

Long
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
forexwithfred  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis AUDUSD audusdidea audusdlong audusdshort USD psychologicalroundnumber breakandretest Bullish Patterns
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trendanalysis chartpattern waveanalysis audusd audusdidea audusdlong audusdshort usd psychologicalroundnumber breakandretest bullish
Hello Traders!,
Upon the market opening yesterday, some pairs do seem to be consolidating against the USD currency, but not the AUD, its showing more strength that ever after break the 0.7000 psychological round level, the first time this year! (Was broken on 31st Dec 2019)

What Is The Market Telling Us?
  • Price has finally broken past 0.7000 level after 3 attempts since last week
  • 14EMA and 50SMA are still showing signs of bullish pressure within this pair
  • 50SMA has been acting as a dynamic support, which is aligning with my trendline
When Should We Enter?
  • Will be waiting for a clear retest of this 0.7000 level since its now been violated
    Once a retest has occured, wait for a bullish candle close above the 0.7000 level and look for a BUY!
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