Good day Traders!
Today we cover the AUDUSD pair a very interesting pair to go Short.
This is my Multi-Timeframe Analysis outlook on this pair,
On monthly chart the AUD broke the trenline resistance level, an indication of a new High on AUDUSD (Long Bullish Market) But before that the AUD is on the Accumulation Phase Stage looking for the Potential Support Area.
In COT perspective (Commitment Of Traders) on a recent published data the COT report has an almost the same numbers. But on the last previous report we see that they keep adding more Long than their Shorts meaning to say. It is obviously looking for more liquidity to move the price on their desire level.
But before that they need to sell their Longs so we are looking for the AUD to re-test the monthly resistance level.
Remarks: This is how we approach the AUDUSD,
We need to see the price to go UP to monthly resistance, See the picture for detailed report.
Option1 - Place a Long position when the market re-open this coming 07.13.20 and place your SL 0.6890
TP 0.7020
Option2 - Wait for the Market to Re-Retest the Monthly Resistance Level then Go Short!
SL and TP are shown on the Picture
If you Like my Idea please Like and Follow me to ge more ideas.
REACTIVEFX
Today we cover the AUDUSD pair a very interesting pair to go Short.
This is my Multi-Timeframe Analysis outlook on this pair,
On monthly chart the AUD broke the trenline resistance level, an indication of a new High on AUDUSD (Long Bullish Market) But before that the AUD is on the Accumulation Phase Stage looking for the Potential Support Area.
In COT perspective (Commitment Of Traders) on a recent published data the COT report has an almost the same numbers. But on the last previous report we see that they keep adding more Long than their Shorts meaning to say. It is obviously looking for more liquidity to move the price on their desire level.
But before that they need to sell their Longs so we are looking for the AUD to re-test the monthly resistance level.
Remarks: This is how we approach the AUDUSD,
We need to see the price to go UP to monthly resistance, See the picture for detailed report.
Option1 - Place a Long position when the market re-open this coming 07.13.20 and place your SL 0.6890
TP 0.7020
Option2 - Wait for the Market to Re-Retest the Monthly Resistance Level then Go Short!
SL and TP are shown on the Picture
If you Like my Idea please Like and Follow me to ge more ideas.
REACTIVEFX