AUDUSD 4hour Analysis January 3rd, 2020
AUDUSD Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Still very bullish on this pair as we recently saw a major break of resistance around 0.76000. From here we’re looking for a pullback to form structure with a confirmed higher low above 0.76000. Look to enter long on the confirmed higher low and then target higher toward 0.78200.
Trade scenario 2: For us to consider short positions we need to see a break and retest of our weekly support at 0.76000. Look to enter short after a confirmed lower high and target lower toward key levels of support.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Still very bullish on this pair as we recently saw a major break of resistance around 0.76000. From here we’re looking for a pullback to form structure with a confirmed higher low above 0.76000. Look to enter long on the confirmed higher low and then target higher toward 0.78200.
Trade scenario 2: For us to consider short positions we need to see a break and retest of our weekly support at 0.76000. Look to enter short after a confirmed lower high and target lower toward key levels of support.