AUDUSD should pull back lower
Audusd is caught in overall channelling. Both buyers and sellers are compelling strong, while the overall channel is in sellers territory.
It is hard to know which side should continue trending move, but we can still trade it well.
We are looking this trade as potential if price broke through first support level at price 0.72363. Sellers might push price lower to our first target at 0.71612.
First target is very important for buyers too, so we will be looking this very closely. That means, we have to follow lower timeframe momentum too, when one side will made a breaking/ bouncing decision.
Sellers next target is at 0.70831. Setting up Stop Loss to break even and following it lower...
If price will bounce, we have to wait for more patterns and fact data.
We hope this was helpful.
Good trading Elite traders.
ELitefxacademy
It is hard to know which side should continue trending move, but we can still trade it well.
We are looking this trade as potential if price broke through first support level at price 0.72363. Sellers might push price lower to our first target at 0.71612.
First target is very important for buyers too, so we will be looking this very closely. That means, we have to follow lower timeframe momentum too, when one side will made a breaking/ bouncing decision.
Sellers next target is at 0.70831. Setting up Stop Loss to break even and following it lower...
If price will bounce, we have to wait for more patterns and fact data.
We hope this was helpful.
Good trading Elite traders.
ELitefxacademy
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