Quick idea.
AUDUSD bulls are having a good time right now and they are pushing the rate above the 200-day EMA. This year has not been the best for the bulls, as from around the end of January 2019 the pair was on a gradual slide, struggling to make its way above the 200-day EMA.
We are now looking for a throwback in order to look for a possible LONG. But we will have to keep an eye the short-term upside support line and the 200-day EMA. If the rate continues to balance above them, then we will continue targeting the upside.
Please see the chart for details.
Don't forget your stop-loss.
AUDUSD bulls are having a good time right now and they are pushing the rate above the 200-day EMA. This year has not been the best for the bulls, as from around the end of January 2019 the pair was on a gradual slide, struggling to make its way above the 200-day EMA.
We are now looking for a throwback in order to look for a possible LONG. But we will have to keep an eye the short-term upside support line and the 200-day EMA. If the rate continues to balance above them, then we will continue targeting the upside.
Please see the chart for details.
Don't forget your stop-loss.
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