AUDUSD Forex cross pair downtrend supply and demand forecast
AUDUSD Forex cross pair is in a clear weekly downtrend using supply and demand imbalances. AUDUSD Forex cross pair forecast is bearish, monthly and weekly timeframes are in a clear downtrend creating strong weekly supply imbalances like the last one located around 0.6995.
As you will see in the supply and demand technical video analysis, supply and demand core rules state that after a very strong bearish impulse, we should wait for a bigger retracement as price is too cheap to sell. We can see on AUDUSD weekly timeframe that price has been pausing for three weeks after the strong weekly bearish impulse that ended up created a pretty strong weekly supply imbalance where shorts will be possible again. The weekly timeframe is stalling and showing signs of weakness. Shorts will be possible higher at weekly supply level or if new strong supply imbalances are created.
If you are an intraday trader or even scalping using other Forex trading strategies, some counter-trend buy opportunities could be created. As a swing trader, the trend is clearly down so only shorts are possible are strong imbalances of supply. If you are not patient enough and start chasing trades the market will end up blowing up your account.
As you will see in the supply and demand technical video analysis, supply and demand core rules state that after a very strong bearish impulse, we should wait for a bigger retracement as price is too cheap to sell. We can see on AUDUSD weekly timeframe that price has been pausing for three weeks after the strong weekly bearish impulse that ended up created a pretty strong weekly supply imbalance where shorts will be possible again. The weekly timeframe is stalling and showing signs of weakness. Shorts will be possible higher at weekly supply level or if new strong supply imbalances are created.
If you are an intraday trader or even scalping using other Forex trading strategies, some counter-trend buy opportunities could be created. As a swing trader, the trend is clearly down so only shorts are possible are strong imbalances of supply. If you are not patient enough and start chasing trades the market will end up blowing up your account.