AUDUSD LONG SETUP
Inner daily trend line (red)
Outer weekly trend line (black)
feb 27th we saw the counter trend line (light blue) break, so the bearish run took place over last 4 days.
As the bearish run has lose his strength over the last two days, the blue rectangle zone has been rejected 4 times, and the M.A's are getting closer, i think the bulls will take control soon.
The inner trend line looks like a good short term target and a longer term target could be the outer trend line.
Outer weekly trend line (black)
feb 27th we saw the counter trend line (light blue) break, so the bearish run took place over last 4 days.
As the bearish run has lose his strength over the last two days, the blue rectangle zone has been rejected 4 times, and the M.A's are getting closer, i think the bulls will take control soon.
The inner trend line looks like a good short term target and a longer term target could be the outer trend line.
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.