How To Trade AUDUSD Bullish Struggle
On the Daily chart, AUDUSD is on a Fibonacci pattern completion and this will end when the market hits the previous top and crosses that level. The 50% zone is already hit and we are waiting for the 100% zone since a bullish movement is already evident in the area.
On the 4hr tf, the chart has broken the trendline and we should expect a bearish movement but a retest should be encouraged since we have a strong support too.
Go Long
as of the current state, the signal is long to about a take profit of 500 points
Go short
when 0.78880 is broken and a solid bearish candle shows a strong down movement, the bullish signal will be invalid and a short trade will be initiated
On the 4hr tf, the chart has broken the trendline and we should expect a bearish movement but a retest should be encouraged since we have a strong support too.
Go Long
as of the current state, the signal is long to about a take profit of 500 points
Go short
when 0.78880 is broken and a solid bearish candle shows a strong down movement, the bullish signal will be invalid and a short trade will be initiated
