AUDUSD: We go with the trend
hello everyone,
I do really like this setup and, based on my analysis, it has good potential to drop down to profit. It's nicely trending towards the downside. The daily has broken the area of support with the closure of a bearish engulfing candlestick, suggesting an AUD bearish bias. If 1-hour support is attempted to be broken, we can see a further drop down. AUD is still being heavily sold off by the hedge funds so the overall bias is pretty strong. ☺️
I do really like this setup and, based on my analysis, it has good potential to drop down to profit. It's nicely trending towards the downside. The daily has broken the area of support with the closure of a bearish engulfing candlestick, suggesting an AUD bearish bias. If 1-hour support is attempted to be broken, we can see a further drop down. AUD is still being heavily sold off by the hedge funds so the overall bias is pretty strong. ☺️
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