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AUDUSD - H4
- REACHED KEY RESISTANCE
- NECKLINE REACHED AND 50% FIB
- ENTERED CONSOLIDATION (SMALL)
- H1 - BULLISH DUE TO RECENT SURGE (30-40PIPS)
- H4 - REACHED RES LEVEL, SHOWS BEARISH
- H4 - CANDLE RETRACE, STRONG WICK
- D - OVERALL BEARISH (START OF YEAR)
Extra analysis:
Daily TF shows H&S formation from 08 May - 15 Jul // If we reach 0.70700 this could be a breakout or a bounce back, this is heavily dependent on the price action. I can't see the right shoulder breaking, but please bear this in mind.
RISK:
USD going weak, its been very temperamental. As with all trades, review the news before hand and be safe! Alongside this, review the extra analysis, there could be a breakout or bounce back down.
Happy Trading - Daniel
We hope you enjoy our content, please like and follow!
--
AUDUSD - H4
- REACHED KEY RESISTANCE
- NECKLINE REACHED AND 50% FIB
- ENTERED CONSOLIDATION (SMALL)
- H1 - BULLISH DUE TO RECENT SURGE (30-40PIPS)
- H4 - REACHED RES LEVEL, SHOWS BEARISH
- H4 - CANDLE RETRACE, STRONG WICK
- D - OVERALL BEARISH (START OF YEAR)
Extra analysis:
Daily TF shows H&S formation from 08 May - 15 Jul // If we reach 0.70700 this could be a breakout or a bounce back, this is heavily dependent on the price action. I can't see the right shoulder breaking, but please bear this in mind.
RISK:
USD going weak, its been very temperamental. As with all trades, review the news before hand and be safe! Alongside this, review the extra analysis, there could be a breakout or bounce back down.
Happy Trading - Daniel