AUS / USD LONG A lot will depend on if the DXY breaks below the 104 to where the entry will be, but I am bearish on the dollar both from a technical aspect and a fundamental point of view.
So either I will be waiting for a break out of the 0.67986 or a rejection of the 0.67502 and a repeat of the entry on Friday.
Aususdlong
AUS / USD Buys Very choppy price action and has been unable to break the daily lows, probably going to be quiet until tomorrows CPI. I would only look for a sell if there is a lower low close below structure and the blue zone with a retest on the 30 min and a lower low close.
Other wise I favor low positions Ideally with a 4h close above structure and the upper blue zone alternatively if there is a close and rejection from the daily low I would take a long back to the top of structure
AUS / USD SHORT Very choppy, So ideally need to see a break either side of structure with 4h close above or below zone then a retest and a Higher High close on a smaller time frame for continuation in which ever direction. My Bias is to the down side because of how the overall tend looks on the higher time frame.
Plus from fundamental basis the US is looking like the rate cut is not going to come as soon as expected.
SUPPLY AND DEMAND - AUDUSDW1 Tf - long bias
D1 Direction
Price reaching fresh D1 demand zone. New buy opportunities
1H buy zone identified
Wait for price to be triggered. To set BUY limit orders when market opens.
AUDUSD long🔼After the break of the Blue Canal in weekly time frame
bulls still have power and chart are in a uptrend between two red trendline
* white support line ⚪
* yellow support zone (fibo levels) 🟨
* MA 300 🔵
* Weakening of descending waves and strengthening of ascending waves (in angle and number of candles)
* and breaking orange trendline 🟠
are my reasons for buy 🔼 AUDUSD
AUDUSD long intraday trade setupI went long on AU based on the reversal on the 1D and 2nd leg pullback on the 4h. T1 for 80% if we reach 0.6900 and I’ll trail the balance to T2 depending on how price action progresses.. I could exit early depending on how it shapes up. Both Aussie and USA are a little dovish with a seemingly fickle recovery for the Aussie dollar so this isn’t an ideal setup although one that Im ok with as Im looking for a quick exit.