AUDUSD Technical Analysis
Updated
After a big correction last week where we saw a big shift on AUDUSD´s direction, driven by market's realization of how actually the FED would cut rates at a much lower pace than expected by the market, we saw a correction on downside pressure on DXY, gaining strength as well by US strong economy data releases.
I am expecting a continuation to the downside, just after maybe a liquidity grab at 0.66000-0.66100 area first, although increasing tensions on the Middle East Conflict disrupting supply chain, could drive the dollar further down as investors seek to put their money on o
Oil and Gold, and that could change the sentiment on AUDUSD re-taking its way up again.
Technical Analysis gives me a clear direction to the downside on the 15m/4h timeframe.
We can see a double top on the 15m timeframe just at orange on th 4h timerframe which gives me the idea of liquidity to be taken before prices continues the move down, we can see a change on the 4h timeframe to the upside, and on the 15m to the downside.
Im expecting the price to retrace further down to have a more clear view on the long run.
I am expecting a continuation to the downside, just after maybe a liquidity grab at 0.66000-0.66100 area first, although increasing tensions on the Middle East Conflict disrupting supply chain, could drive the dollar further down as investors seek to put their money on o
Oil and Gold, and that could change the sentiment on AUDUSD re-taking its way up again.
Technical Analysis gives me a clear direction to the downside on the 15m/4h timeframe.
We can see a double top on the 15m timeframe just at orange on th 4h timerframe which gives me the idea of liquidity to be taken before prices continues the move down, we can see a change on the 4h timeframe to the upside, and on the 15m to the downside.
Im expecting the price to retrace further down to have a more clear view on the long run.
Note
Identified key level area to enter my short at around 0.66100-0.66150 target in mind at around 0.65700-0.65750 areaTrade active
Already positioned myself shorting at 0.6613, my target so far is 0.65731 then might get a good chance to buy depending on price actionTrade closed: target reached
Target reached. +40pips
+36.73RR
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