AUDUSD currently within a large rising channel & going long
Since its last low at 0.70570, it has risen to 0.71680 and currently performing a correction before going higher.
At its current "drop" from 0.71680, it has reached an approximate price of 0.71000 and is moving within a "downward sloping flag" which means it will bounce back higher.
Downtrend + Downward sloping flag = Reversal
Look for an entry to ride the big rising channel.
At its current "drop" from 0.71680, it has reached an approximate price of 0.71000 and is moving within a "downward sloping flag" which means it will bounce back higher.
Downtrend + Downward sloping flag = Reversal
Look for an entry to ride the big rising channel.
Trade active
As previously mentioned, it has finally bounced back higher and out of the "downward sloping flag".
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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.