AUDUSD potential bearish movement
On Daily timeframe, price is making higher highs and higher lows so AUDUSD is overall bullish.
However, price is approaching a strong resistance / supply area so we will be looking for objective sell setups on lower timeframes as price approaches it.
On H1 timeframe, price is currently forming a wedge pattern, and we are waiting for an objective break below our lower trendline to sell this one.
We also have Divergence on MACD giving us an early alert that a potential reversal might happen.
For now, we are still overall bullish on AUDUSD, as long as price is trading inside our wedge pattern.
On Daily timeframe, price is making higher highs and higher lows so AUDUSD is overall bullish.
However, price is approaching a strong resistance / supply area so we will be looking for objective sell setups on lower timeframes as price approaches it.
On H1 timeframe, price is currently forming a wedge pattern, and we are waiting for an objective break below our lower trendline to sell this one.
We also have Divergence on MACD giving us an early alert that a potential reversal might happen.
For now, we are still overall bullish on AUDUSD, as long as price is trading inside our wedge pattern.
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RichTL.com
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instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
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.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
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.