AUDUSD Back to Its Bullish Trend?
AUDUSD has exhibited a strong bullish trend since finding support at 0.635. After hunting a major liquidity zone around 0.69, the price experienced a bearish correction. However, from a higher timeframe perspective, the trend remains bullish. This suggests that reactions to demand zones might be more pronounced compared to supply zones.
Recently, AUDUSD displayed a strong reaction to a key support level on its higher timeframes, even with a countervailing trend in the DXY (US Dollar Index). This reinforces the significance of this support level.
Considering the strength of the higher timeframe trend, opening buy positions within lower timeframe supply zones presents a potentially attractive opportunity, especially for traders seeking high risk reward (R:R) setups (However, this approach differs from my own trading strategy)
Please note that this analysis is not intended as financial advice. Each individual should assume responsibility for their own trades. The purpose of this post is to provide ideas and inspiration, encouraging readers to view the chart from different perspectives. Always conduct your own research and analysis before making any trading decisions.
Recently, AUDUSD displayed a strong reaction to a key support level on its higher timeframes, even with a countervailing trend in the DXY (US Dollar Index). This reinforces the significance of this support level.
Considering the strength of the higher timeframe trend, opening buy positions within lower timeframe supply zones presents a potentially attractive opportunity, especially for traders seeking high risk reward (R:R) setups (However, this approach differs from my own trading strategy)
Please note that this analysis is not intended as financial advice. Each individual should assume responsibility for their own trades. The purpose of this post is to provide ideas and inspiration, encouraging readers to view the chart from different perspectives. Always conduct your own research and analysis before making any trading decisions.
Note
we can see the reaction to the smaller demand zone inside the bigger demand zone
It will be expected to keep its bullish trend aiming to the supply zone [0.69]
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