AUDUSD 4hour Analysis June 21st, 2020
AUDUSD Short idea
Overall higher timeframes are bearish but we saw a strong 4hour bullish trend push price action up to our major resistance zone around 0.70250 where we saw a key reversal happen.
At our resistance level we saw a double top then a lower timeframe transition to the down side. Since then price action has been printing lower highs repeatedly hinting at a larger bearish move to come.
We did enter last week on a short position and would still be active if price action did not come back to entry around 0.69000
Now we are looking for a retest of broken structure with strong bearish setups before entering short again. Look to target lower toward our major support around 0.67500
Overall higher timeframes are bearish but we saw a strong 4hour bullish trend push price action up to our major resistance zone around 0.70250 where we saw a key reversal happen.
At our resistance level we saw a double top then a lower timeframe transition to the down side. Since then price action has been printing lower highs repeatedly hinting at a larger bearish move to come.
We did enter last week on a short position and would still be active if price action did not come back to entry around 0.69000
Now we are looking for a retest of broken structure with strong bearish setups before entering short again. Look to target lower toward our major support around 0.67500
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.