Hey traders,
This is my analysis of AUDUSD before the markets open this week.
AUDUSD is currently in a downward phase.
Last week we had a minor retrace to the up side before bears were able to take control again and close with 3 consecutive bearish closes.
Price is now at the open of the 1st bullish candle in the minor retrace.
I see price breaking this level and continuing to the downside to the purple S/R.
Once you are able to determine if a currency pair is in it's upward or downward move, everything becomes easier and it's all about spotting entries.
This is my analysis of AUDUSD before the markets open this week.
AUDUSD is currently in a downward phase.
Last week we had a minor retrace to the up side before bears were able to take control again and close with 3 consecutive bearish closes.
Price is now at the open of the 1st bullish candle in the minor retrace.
I see price breaking this level and continuing to the downside to the purple S/R.
Once you are able to determine if a currency pair is in it's upward or downward move, everything becomes easier and it's all about spotting entries.
