Technical Analysis of AUD/USD (4-Hour Chart)
On the 4-hour chart of AUD/USD, after a strong uptrend, the price has reached a significant resistance zone. This level has acted as a strong ceiling and has shown multiple price reactions in the past.
At this point, signs of weakness in the bullish trend are visible, and with the formation of a divergence on the chart, there’s a chance the trend could reverse. Additionally, a divergence pattern is forming, which could indicate the start of a bearish trend.
📉 Entry Strategy: Wait for a bearish engulfing candle to form in this resistance zone for confirmation before entering a sell trade. Once you enter the trade, the initial target will be in the specified zone on the chart.
On the 4-hour chart of AUD/USD, after a strong uptrend, the price has reached a significant resistance zone. This level has acted as a strong ceiling and has shown multiple price reactions in the past.
At this point, signs of weakness in the bullish trend are visible, and with the formation of a divergence on the chart, there’s a chance the trend could reverse. Additionally, a divergence pattern is forming, which could indicate the start of a bearish trend.
📉 Entry Strategy: Wait for a bearish engulfing candle to form in this resistance zone for confirmation before entering a sell trade. Once you enter the trade, the initial target will be in the specified zone on the chart.
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