AUDUSD: Fight the Sellers 🥊
The key structural support level around 0.70000 gave buyers a great base to buy from.
Then another round of buyers entered once the mayor trend line had been broken.
However, because of the larger amount of buyer liquidity, banks had to intervene and drive price down to stop all buyers out of the market.
Buyers now believe they were wrong about buys and are slowly shifting their perspective to sells, this can be seen in the current market sentiment.
Are banks going to make retail traders wrong twice?
I like to go for a contrarian approach, I will be buying AUD pairs over the coming weeks for long term swings.
Then another round of buyers entered once the mayor trend line had been broken.
However, because of the larger amount of buyer liquidity, banks had to intervene and drive price down to stop all buyers out of the market.
Buyers now believe they were wrong about buys and are slowly shifting their perspective to sells, this can be seen in the current market sentiment.
Are banks going to make retail traders wrong twice?
I like to go for a contrarian approach, I will be buying AUD pairs over the coming weeks for long term swings.
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