AUDUSD 4hour Analysis November, 7th 2021
AUDUSD Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Strongly bearish here on AU but we’re sitting right at 0.74000 major support. Ideally we break below with no issues and see our next lower high below. We can then look to enter short and target lower toward 0.73000.
Trade scenario 2: If we see price action reverse here at 0.74000 we need to see a confirmed higher low above with conviction. Look higher toward resistance around 0.75000.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: Strongly bearish here on AU but we’re sitting right at 0.74000 major support. Ideally we break below with no issues and see our next lower high below. We can then look to enter short and target lower toward 0.73000.
Trade scenario 2: If we see price action reverse here at 0.74000 we need to see a confirmed higher low above with conviction. Look higher toward resistance around 0.75000.