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Audusdsetup

Neutral AUDUSDThis pair could either go long or short depending on several confirmations. What I see: - Price has rejected from the descending trendline 3 times. - Each trendline rejection was confirmed by either a strong support or resistance zone. - The latest formation on the daily chart is a double bottom. - Price is currently around the resistance zone, descending trendline and neck of the double bottom. - Stochastic is gradually becoming overbought. Price could either complete the double bottom formation and long towards 0.75555, or price could reject from the trendline and short towards 0.69930. I'll be waiting for a candle bar confirmation.
by PassionPipsTrading
AUDUSD LONGOANDA:AUDUSD AUDUSD on an uptrend with HHs and LLs on the 1H. Price broke resistance and made a pullback testing what is now support. Price retraced at 38.2% fib level. A consolidation occurred creating a descending triangle with LH's and a strong support level with long wicks indication a strong rejection of buyers, should price close higher than the last lower high of the descending triangle it will break structure and a buy setup will be confirmed and take profit 1 would be at 0.72119, and take profit 2 will be at 0.72571 should price continue to break the resistance level of take profit 1.
Long
by The_Pip_Trader
AUDUSD - Bearish outlook for the weekHi Everyone, I believe AUDUSD won't be able to break above 0.7100 again and will continue to fall throughout the week. Keep an eye on this idea as I'll keep updating here the key levels to look price action at, just so you make a better decision to enter sells! I will not be selling at the beginning of Market Open and so shouldn't you! Wait until you see some clear indications that the market will continue to go down. Good luck. Gaspar_Trader
Short
by Gaspar_Trader
AUDUSD - Bearish outlook - SELL OPPORTUNITYAUDUSD has reached a key level, where bears could find as an opportunity to enter SELLS. I'm looking at price action around 0.71350 - 0.71400 area. Please don't rush to sell! Make sure you see confirmation around this level and then you can confidently start opening your short positions! The pair also looks overbought from RSI perspective! I think it has got potential to go down towards 0.68000 area, which would bring a nice profit. STOP LOSS should be placed above 0.72100. A daily close above this area would negate the bearish scenario. Let me know your thoughts. Thanks, Gaspar_Trader
Short
by Gaspar_Trader