Watching for Pullback
Price on the AUDNZD is now in a solid downtrend on both the daily and intraday time frames.
As the daily chart shows; price has recently been forming lower highs and lower lows and breaking through support levels.
Price action on the 4 hour chart has now formed a bullish engulfing bar. This engulfing bar could send price back higher and back into the overhead resistance.
If we can now see price rotate back higher within this trend we can start to look for short trades.
As the daily chart shows; price has recently been forming lower highs and lower lows and breaking through support levels.
Price action on the 4 hour chart has now formed a bullish engulfing bar. This engulfing bar could send price back higher and back into the overhead resistance.
If we can now see price rotate back higher within this trend we can start to look for short trades.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.