AUDUSD Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Overall AU has been bearish on higher timeframes but has been looking very bullish on the 4hour timeframe.
The most likely scenario is that price action reaches our 0.72500 resistance level before we see any sort of reaction. Look for higher lows at this point near 0.71200 for re-entries.
Consider further long scenarios if 0.72500 resistance breaks and we spot structure above.
Trade scenario 2: For us to consider AU bearish again we first need to see 0.71200 break with a lower high below.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Overall AU has been bearish on higher timeframes but has been looking very bullish on the 4hour timeframe.
The most likely scenario is that price action reaches our 0.72500 resistance level before we see any sort of reaction. Look for higher lows at this point near 0.71200 for re-entries.
Consider further long scenarios if 0.72500 resistance breaks and we spot structure above.
Trade scenario 2: For us to consider AU bearish again we first need to see 0.71200 break with a lower high below.
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