AUDUSD 4hour Analysis October 4th, 2020
AUDUSD Bearish idea
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Price action continues with the daily bearish trend after rejecting broken resistance and structure at 0.72000. Look to enter on strong bearish setups and target lower toward 0.70700.
Trade scenario 2: Price action pushes higher through resistance at 0.72000. Look to enter on a higher low above 0.72000 to confirm the trend will continue bullish. Target higher toward key resistance levels.
Weekly Trend: Bullish
Daily Trend: Bearish
4Hour Trend: Bullish
Trade scenario 1: Price action continues with the daily bearish trend after rejecting broken resistance and structure at 0.72000. Look to enter on strong bearish setups and target lower toward 0.70700.
Trade scenario 2: Price action pushes higher through resistance at 0.72000. Look to enter on a higher low above 0.72000 to confirm the trend will continue bullish. Target higher toward key resistance levels.