AUDUSD approaching resistance area
Idea: Price is approaching a 4hr area of resistance that fits also with a daily resistance area.
4hr resistance 0.77164 - 0.77520
Pros: The trend idea fits with the reversal idea in copper and strength of the dxy that I have been working on. The aussie could fall back into the monthly short trend from here.
Cons: Increased strength above 0.7752 indicates price is continuing long AUDUSD. Price could retest this area more than once before falling.
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
4hr resistance 0.77164 - 0.77520
Pros: The trend idea fits with the reversal idea in copper and strength of the dxy that I have been working on. The aussie could fall back into the monthly short trend from here.
Cons: Increased strength above 0.7752 indicates price is continuing long AUDUSD. Price could retest this area more than once before falling.
DISCLAIMER:
This is where I practice ideas and work on my trading techniques. This is not investment advice. Please note I am only providing my own trading information for insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal. Trade at your own risk.
