AUDUSD 4hour Analysis August 16th, 2020
AUDUSD Long idea
Price action is very bullish on the daily and 4hour time frames and recently broke a major zone around 0.70500. Now we are seeing some consolidation above 0.70500 and are looking for potential long opportunities.
1.Look for a break and retest of 0.71900 with a confirmed higher low. Target toward the -27% fib level.
For us to consider short opportunities we need to see a major shift in price action. We would only consider selling when the major zone around 0.70500 is confirmed broken.
Price action is very bullish on the daily and 4hour time frames and recently broke a major zone around 0.70500. Now we are seeing some consolidation above 0.70500 and are looking for potential long opportunities.
1.Look for a break and retest of 0.71900 with a confirmed higher low. Target toward the -27% fib level.
For us to consider short opportunities we need to see a major shift in price action. We would only consider selling when the major zone around 0.70500 is confirmed broken.