AUDUSD 4hour Analysis 5/31/20
AUDUSD Long Idea
This pair is currently mid formation of a daily transition to the upside! Meaning the daily bearish 100% fib level has been passed and price action may be looking bullish for now.
On the 4hour chart price action is showing strong bullish momentum and we’re looking to make a push toward 0.67500 which is looking very likely.
Upon market open look for strong bullish setups on the 4hr and on lower timeframes to confirm the trade
The blue arrow represents the likely scenario for current price action.
The orange arrow represents a potential bearish scenario if the bulls fail to continue with momentum.
This pair is currently mid formation of a daily transition to the upside! Meaning the daily bearish 100% fib level has been passed and price action may be looking bullish for now.
On the 4hour chart price action is showing strong bullish momentum and we’re looking to make a push toward 0.67500 which is looking very likely.
Upon market open look for strong bullish setups on the 4hr and on lower timeframes to confirm the trade
The blue arrow represents the likely scenario for current price action.
The orange arrow represents a potential bearish scenario if the bulls fail to continue with momentum.
Feragatname
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