AUDUSD Two trading setups!!
**Monthly Chart**
AUDUSD last month's candle closed bullish indicating a shift in an intermediate trend towards targeting the next high at 0.6900 - 0.7000 level. If this trend breaks then the next target will be around 0.72000.
Currently, the monthly candle (which is still active) moving to the low of previous monthly candle which might be a strong level for the price to be tested and bounce from it.
**Weekly Chart**
Last week candle closed as a bearish candle and currently testing the weekly low which might be a potential for the price to start moving high from there. But this required an additional confirmation from lower time frames.
**Daily Chart**
Two trading scenarios are setting up on the daily chart. Given that AUDUSD is in sideway movement on weekly chart. There are equal lows and relatively equal highs on weekly chart. Therefore, the trading setups are as follows:
1. Sell short on confirmation after a test on imbalance and liquidity pool areas on lower time frames.
2. Buy long on confirmation on the daily MC near the equal lows on lower time frames.
AUDUSD last month's candle closed bullish indicating a shift in an intermediate trend towards targeting the next high at 0.6900 - 0.7000 level. If this trend breaks then the next target will be around 0.72000.
Currently, the monthly candle (which is still active) moving to the low of previous monthly candle which might be a strong level for the price to be tested and bounce from it.
**Weekly Chart**
Last week candle closed as a bearish candle and currently testing the weekly low which might be a potential for the price to start moving high from there. But this required an additional confirmation from lower time frames.
**Daily Chart**
Two trading scenarios are setting up on the daily chart. Given that AUDUSD is in sideway movement on weekly chart. There are equal lows and relatively equal highs on weekly chart. Therefore, the trading setups are as follows:
1. Sell short on confirmation after a test on imbalance and liquidity pool areas on lower time frames.
2. Buy long on confirmation on the daily MC near the equal lows on lower time frames.
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