AUDUSD PRE-MARKET ANALYSIS MARCH 14, 2021
OVERALL TREND: BULLISH ON DAILY AND WEEKLY
As we can see on the 4H TF, the market is at a corrective movement following a slight uptrend across a major key zone.
Taking into consideration we broke into newer lows shown on the vertical zone.
We have 3 options to go from here.
Either price hits and retests zone 1 which acts as resistance to push the market down, breaking the trendline towards the downside, and hits the support level zone 3 which is a strong support level, and continues bearish.
Depending on where the market goes, we have a short opportunity at key zones 1, long opportunity at key zone 2, or both a potential long or short entry at key zone 3, depending on what price shows at the 1H TF.
As we can see on the 4H TF, the market is at a corrective movement following a slight uptrend across a major key zone.
Taking into consideration we broke into newer lows shown on the vertical zone.
We have 3 options to go from here.
Either price hits and retests zone 1 which acts as resistance to push the market down, breaking the trendline towards the downside, and hits the support level zone 3 which is a strong support level, and continues bearish.
Depending on where the market goes, we have a short opportunity at key zones 1, long opportunity at key zone 2, or both a potential long or short entry at key zone 3, depending on what price shows at the 1H TF.
Comment:
A positive confirmation for a bull run. fakeout confirmed.
Comment:
Reversal in price. Going down to our Zone 3.
Comment:
A potential retest of our trendline and reversal to the downside.
Comment:
Potential break into higher highs with an inverted heads and shoulder pattern.
Still waiting.