Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
According to the downward trend formed and the return of the price from the shown resistance, the price can continue the downward trend until the bottom of the channel.
TIME : 1 days
SIDE : SELL
BUY 0r SELL ZONE : 0.6930
TAKE PROFIT : 0.6757
STOP LOSS : 0.699
R/R = 2.4
MIDTERM SIGNAL
#FOREX
#AUDUSD
Right now price is near the 4H key level and broke the previous 1H key level it's playing the possible fake out, we will wait to see price break above the 1H key level and retest the zone and after that will be the change of the structure and price can possible move up side.
Please, take the entry based on your trading plan and use the good risk management to...
AUDUSD is consolidating at the SUPPORT ZONE on the weekly chart. So, it presents a great BUY opportunity with very HIGH REWARD and LOW RISK.
Traders can look for BUY ENTRIES at 0.0.6850-0.6870 with SL below 0.6720.
TPs can be set at 0.6950, 0.7040, 0.7150 and 0.7300 respectively.
