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AUDUSD 4hour Analysis August 1st, 2021
AUDUSD Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we are bearish on AU and price action looks like it will continue with that trend this week.
From where price action currently is there are no perfect opportunities which is why a pullback would present a better opportunity.
Look to target lower if we can spot a strong continuation after a reversal closer to broken resistance. Target toward 0.73000 support.
Trade scenario 2: For us to consider AU bullish we ideally need to see higher low above 0.74000 with strong bullish setups.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall we are bearish on AU and price action looks like it will continue with that trend this week.
From where price action currently is there are no perfect opportunities which is why a pullback would present a better opportunity.
Look to target lower if we can spot a strong continuation after a reversal closer to broken resistance. Target toward 0.73000 support.
Trade scenario 2: For us to consider AU bullish we ideally need to see higher low above 0.74000 with strong bullish setups.
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