AUDUSD BUY SETUP
Here are my reasons for the bullish outlook on AUDUSD
Weekly:
-we broke structure to the upside, clearing through the consolidation zone between 0.66000 and 0.68000
-the weekly candles (last three candles) indicate a strong bullish momentum currently dominating the market
-current weekly highs of interest are at 0.68997 and 0.69207
H4:
-we have been on a strong bullish assault on this time frame
-current market phase has been the retracement before we can stage a continuation to the upside
-the pair has simply slipped to the downside to, most potentialy, collect more institutional orders off the 0.68000 level before we dump price to the upside
-the weekly levels at 0.68997 and 0.69207 form strong attractions of liquidity for the pair
Midrange:
-we have retraced to the area between the 61.8% and 78.6% fib levels
-we have dipped down into a recent order zone as signaled by multiple H4 wicks to the downside where we picked up orders as we soared to current market highs around 0.69000
-H4 levels at 0.67900 and 0.64950 as well as the key daily level at 0.67850 form strong levels where price is to find support
-the pair has offered a strong wick candle on M15 in favor of the upside. This is sufficient signal for an entry.
Disclaimer: this is just my opinion on the movement of the pair and should not be construed as financial advice. Kindly do your own analysis and make your own conclusions on the same.
Weekly:
-we broke structure to the upside, clearing through the consolidation zone between 0.66000 and 0.68000
-the weekly candles (last three candles) indicate a strong bullish momentum currently dominating the market
-current weekly highs of interest are at 0.68997 and 0.69207
H4:
-we have been on a strong bullish assault on this time frame
-current market phase has been the retracement before we can stage a continuation to the upside
-the pair has simply slipped to the downside to, most potentialy, collect more institutional orders off the 0.68000 level before we dump price to the upside
-the weekly levels at 0.68997 and 0.69207 form strong attractions of liquidity for the pair
Midrange:
-we have retraced to the area between the 61.8% and 78.6% fib levels
-we have dipped down into a recent order zone as signaled by multiple H4 wicks to the downside where we picked up orders as we soared to current market highs around 0.69000
-H4 levels at 0.67900 and 0.64950 as well as the key daily level at 0.67850 form strong levels where price is to find support
-the pair has offered a strong wick candle on M15 in favor of the upside. This is sufficient signal for an entry.
Disclaimer: this is just my opinion on the movement of the pair and should not be construed as financial advice. Kindly do your own analysis and make your own conclusions on the same.
Disclaimer
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