AUDUSD Short into 0.74200Confluences
1. Monthly/Weekly resistance
2.Weekly is rejected it and probably it will close rejecting it due to lower timeframe confluences
3. Daily -Went above then come back below, so, there is a high probability that most buyers is not interested anymore
4. Daily - Potential head and shoulders
Entry point - would be on next shoulder.
Scaling opportunity might come when it breaks the strong support
Audusdidea
AUDUSD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
AUDUSD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
AUDUSD slips below 200-DMAAUD/USD close below 200-DMA will see dip till next major support at 110-EMA at 0.7242. Bounce off 200-DMA will see upside resumption.
Technical bias for the pair remains bullish. Major moving averages are trending higher.
That said, RSI and Stochs are showing a bearish rollover from overbought levels, raising scope for some weakness.
DISCLAIMER: ((trade based on your own decision ))
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Short Setup After Bearish Closure On Daily Time Frame To ConfirmThis is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions