Market considerably bullish on the 4hr and daily charts. Broke through long term resistance at the 0.8540 area. The pair is now trading in uncharted territory having reached new highs.
The break and bounce of the resistance, now turned support can be seen clearly on the hourly chart.
Besides the. fact that the RSI has been recently oversold, we can also see...
The AUDUSD is generally bullish on the 15m chart.
Market is touching a previous support zone and rejecting it,
forming bullish candles with long spikes
At the touch, we see a large volume spike possibly buyers coming in.
Looking to go long when bears fail to push price lower.
Trade ideas my own, research the market well before you trade.
Spike and channel formation. Looking at a long opportunity on a break above short term channel resistance. If break is successful, targets at 1.2000 area of interest, and resistance areas above at 1.1207 and 1.1247, the only challenge here being the bearish tone of the market Trade ideas are my own, please trade your ideas with proper risk management.
