The AUDUSD pair has experienced a significant rally, indicating a predominantly bullish sentiment based solely on a comprehensive analysis of price action.
However we are approaching a a strong resistance zone where we previously saw a large push to the downside and as we are approaching this area again there is also some divergence in the price action and the RSI as the RSI trend has started to shift to show some downside momentum.
I would be seeking entry on the 1H timeframe. Using the a modified version of the RSI Stops by Duyck
However we are approaching a a strong resistance zone where we previously saw a large push to the downside and as we are approaching this area again there is also some divergence in the price action and the RSI as the RSI trend has started to shift to show some downside momentum.
I would be seeking entry on the 1H timeframe. Using the a modified version of the RSI Stops by Duyck
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C Nicholas Downie
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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.
C Nicholas Downie
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.