AUDUSD Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: The 4hour timeframe is now in a very strong bullish trend and looks like we could confirm a daily bullish trend as well if price action forms a higher low above 0.74000.
Look for the higher low to confirm and enter on strong bullish setups. Look to target higher toward resistance around 0.75000
Trade scenario 2: If we are to consider AU bearish we would need to see a break back below 0.74000 with a lower high below.
If this does happen that means this recent break could be a large fakeout!
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: The 4hour timeframe is now in a very strong bullish trend and looks like we could confirm a daily bullish trend as well if price action forms a higher low above 0.74000.
Look for the higher low to confirm and enter on strong bullish setups. Look to target higher toward resistance around 0.75000
Trade scenario 2: If we are to consider AU bearish we would need to see a break back below 0.74000 with a lower high below.
If this does happen that means this recent break could be a large fakeout!