AUDUSD Momentum Fading (Upside Ahead)
Analysis
-AUDUSD looking bullish and showing signs of a potential reversal following days of consolidation.
-The price action in the consolidation resulted in a daily pinbar at support which is a bullish sign.
-On the 1H time frame, price is making equal lows and looking to break the trendline to the upside.
-There is also bullish MACD divergence on the 1H time frame which further eludes to price possibly moving higher following the equal lows.
-The reward/risk is good for the setup (given the distance between daily S/R levels)
*Trade Safe and at your own discretion!*
-AUDUSD looking bullish and showing signs of a potential reversal following days of consolidation.
-The price action in the consolidation resulted in a daily pinbar at support which is a bullish sign.
-On the 1H time frame, price is making equal lows and looking to break the trendline to the upside.
-There is also bullish MACD divergence on the 1H time frame which further eludes to price possibly moving higher following the equal lows.
-The reward/risk is good for the setup (given the distance between daily S/R levels)
*Trade Safe and at your own discretion!*