AUDUSD BULLISH moment on the way...
AUDUSD is a forex instrument that has 5.4% of trading volume.
AUDUSD have been consolidatiing in the rectangle for past 2 month. It break to the downside but proved to be a fakeout. and market reversed and ended up back in channel.
AUDUSD is expected to be bullish for next week.
Reason:
Verdict:
Bullish for next Week
Plan of action:
Buy: 0.63835 (after retrace)
SL: 0.63508
Target: 0.64941
AUDUSD have been consolidatiing in the rectangle for past 2 month. It break to the downside but proved to be a fakeout. and market reversed and ended up back in channel.
AUDUSD is expected to be bullish for next week.
Reason:
- Fakeout and very nice volume comeback to channel.
- Price > 5 EMA >13 EMA
- Bullish pattern formation after fakeout. right time to make position.
- RSI > 50 Bullish Zone.
Verdict:
Bullish for next Week
Plan of action:
Buy: 0.63835 (after retrace)
SL: 0.63508
Target: 0.64941
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