AUDUSD - Overview Week Commencing 13th Feb 2023
Overview:
Price is currently around the EMA's so there isn't too much directional bias. Price is however in a slight recent downwards trend so we are more bearish on this pair then we are bullish.
Short Setup:
If price is able to break out area of support and retest it for resistance then there would be some good entries for short positions but we need to wait for that break and retest first.
Long Setup:
If price is able to break above the area of resistance and retest it for support then there would be some good entries for long positions but we need to wait for the break and retest before we look at entering.
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!
Price is currently around the EMA's so there isn't too much directional bias. Price is however in a slight recent downwards trend so we are more bearish on this pair then we are bullish.
Short Setup:
If price is able to break out area of support and retest it for resistance then there would be some good entries for short positions but we need to wait for that break and retest first.
Long Setup:
If price is able to break above the area of resistance and retest it for support then there would be some good entries for long positions but we need to wait for the break and retest before we look at entering.
Disclaimer:
This is my opinion on this asset at the time. This is not financial advise. Don't take this trade blindly, do your own analysis first before entering. Feel free to use this analysis to assist you with yours. Feel free to leave any comments you have. Good luck!!!