AUD/USD Weekly Forecast-Bullish Outlook with Key Levels Identified.
Based on my technical analysis for the upcoming week, I anticipate a bullish move in AUD/USD. Despite the expected retracement trades, my primary focus remains on the larger trend.
Technical Analysis.
-timeframe:H4
-key support level (S level): 0.62501
-POI/Target level: 0.63653
-Risk/Reward Ratio: 2.4%
Market Structure & Entry plan.
-The market is currently showing signs of respecting the S level at 0.62501, supported by CHoCH. Although there remains unswept liquidity below this level, I am positioning my entry at 0.62501 with the expectation of a bullish reaction.
Before this move unfolds , R level that could trigger a retracement . This retracement will likely occur to grab liquidity around 0.62708 and 0.62668 before price moves toward our QML . Once the liquidity has been collected , I anticipate price to push toward our entry zone , setting up a strong bullish trade.
Trade Expectations
-entry price: 0.62501
-liquidity grab at : 0.62708 and 0.62668
-expected reaction: After liquidity is taken, price should move toward the QML and then confirm the bullish move toward our target 0.63653
-estimated trade duration: Approximately 2 days.
Based on my technical analysis for the upcoming week, I anticipate a bullish move in AUD/USD. Despite the expected retracement trades, my primary focus remains on the larger trend.
Technical Analysis.
-timeframe:H4
-key support level (S level): 0.62501
-POI/Target level: 0.63653
-Risk/Reward Ratio: 2.4%
Market Structure & Entry plan.
-The market is currently showing signs of respecting the S level at 0.62501, supported by CHoCH. Although there remains unswept liquidity below this level, I am positioning my entry at 0.62501 with the expectation of a bullish reaction.
Before this move unfolds , R level that could trigger a retracement . This retracement will likely occur to grab liquidity around 0.62708 and 0.62668 before price moves toward our QML . Once the liquidity has been collected , I anticipate price to push toward our entry zone , setting up a strong bullish trade.
Trade Expectations
-entry price: 0.62501
-liquidity grab at : 0.62708 and 0.62668
-expected reaction: After liquidity is taken, price should move toward the QML and then confirm the bullish move toward our target 0.63653
-estimated trade duration: Approximately 2 days.
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.
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.