AUDUSD Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Still looking very bearish here on AU but we can clearly see that price action is in a range just below major resistance around 0.74000.
How price action reacts at this level will determine our potential movement for the week.
Ideally we see price action reverse now with plenty of confirmation. You could enter a reversal from this level but the most conservative trade opportunity is always on a lower high confirming a break of a range.
Trade scenario 2: For us to consider AU bullish we would need to see a strong break above 0.74000 with a confirmed higher low above.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Still looking very bearish here on AU but we can clearly see that price action is in a range just below major resistance around 0.74000.
How price action reacts at this level will determine our potential movement for the week.
Ideally we see price action reverse now with plenty of confirmation. You could enter a reversal from this level but the most conservative trade opportunity is always on a lower high confirming a break of a range.
Trade scenario 2: For us to consider AU bullish we would need to see a strong break above 0.74000 with a confirmed higher low above.