AUDUSD 1hour Analysis January 12th, 2021
Price is currently testing the 1hour 200MA and our key structure zone at .77350.
Trade Scenario 1: Bearish - We are looking for further bearish pressure/engulfing here. We will look to first target the key monthly at .7660
Trade Scenario 2: Bullish - For us to go long we need to see price break above the 1h and 30m 200MA and our key structure zone of .7740. We will then wait for a retrace and for .7740 to flip as support.
Trade Scenario 1: Bearish - We are looking for further bearish pressure/engulfing here. We will look to first target the key monthly at .7660
Trade Scenario 2: Bullish - For us to go long we need to see price break above the 1h and 30m 200MA and our key structure zone of .7740. We will then wait for a retrace and for .7740 to flip as support.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.