AUDUSD Trade Idea
In yesterday's analysis, I discussed about short-term selling opportunities if price rejects the 0.7667 previous S&R zone, but price had a deeper pullback towards 0.7690 before further bearish continuation. In today's analysis, I'll be switching to the 4h chart for a better clarity with 150ema as a long-term directional bias guide. As price is crossing below the 150 ema with a clean bearish pin bar rejection, we could expect some short-term bearish sentiment in the market. In today's trading session, will be favoring short-term selling opportunities towards 0.7570 support zone. However, if price found bullish momentum pushing it through 0.7690 resistance level, that could indicate strength in AU invalidating the short setups.
Do not forget the overall trend on the higher timeframe remains bullish, we're trying to profit from the short-term bearish sentiment in the market.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Do not forget the overall trend on the higher timeframe remains bullish, we're trying to profit from the short-term bearish sentiment in the market.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Note
Previous analysis
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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.