AUDUSD is currently on a supportive trendline. Price has failed to break through a strong resistance zone is and obeying a counter-trendline. The supportive trendline may hold, pushing price up. However, my bias is bearish based on the multiple rejections at the resistance zone and counter-trendline. Waiting for a break and retest of the supportive trendline to go short.
Remember: trade reactively. Do not take trades based on predictions,
Please share your thoughts in the comments below, all input is appreciated. Follow me for more ideas and analyses.
Best of luck traders!
*THIS IS NOT INVESTMENT ADVICE AND IS NOT IN ANY WAY INTENDED TO BE SUCH. THIS IS MERELY MY VIEW ON THE MARKET AND IS FOR EDUCATIONAL PURPOSES. ANY TRADES TAKEN BY YOU ARE AT YOUR OWN DISCRETION AND AT YOUR OWN RISK*
Remember: trade reactively. Do not take trades based on predictions,
Please share your thoughts in the comments below, all input is appreciated. Follow me for more ideas and analyses.
Best of luck traders!
*THIS IS NOT INVESTMENT ADVICE AND IS NOT IN ANY WAY INTENDED TO BE SUCH. THIS IS MERELY MY VIEW ON THE MARKET AND IS FOR EDUCATIONAL PURPOSES. ANY TRADES TAKEN BY YOU ARE AT YOUR OWN DISCRETION AND AT YOUR OWN RISK*