AUD/USD - BUY OPPORTUNITY Push Towards 0.7000

22 Haz 2020

Hello Traders!,
Hope everyone has had a good start to the week! The market is full of opportunities this week and today we're looking at a possible BUY opportunity for AUD/USD
What Is The Market Telling Us?

• We can see price has been ranging between our channel while making higher lows off our trendline support
  
• Bullish MA crossover adds confluence to our BUY bias as we await a breakout of our channel
  
• Retracement phase seems to be over due to bullish engulfing candle on the D1 timeframe
  

When Should We Enter?

• In this scenario we are looking for a breakout of our channel followed by a retest/retracement, once we have bullish confirmation, we look for BUYS
  
• Our channel resistance may hold and bring us back down to our channel support, if this occurs, look for short-term BUYS off channel support