AUDUSD- a correction then BUY!
**Daily**:
-Overall bullish trend.
-Price action failed to turn the previous broken support structure (red zone) into new resistance, which confirmed that the pair is ready for the next upside movement.
-MACD also indicating potential upwards momentum.
- expecting a long position
**4H**:
- Recent bullish impulse started to slow down by creating bigger correction.
- currently approaching on a strong descending trendline.
- MACD is showing weak bearish momentum.
**What to do now? When to buy?**
- Wait patiently for the price action to form.
- I was expecting a pullback to the key area (0.7650- 0.7700), since the bullish exhaustion started to form.
- Then, buy for good RR ratio with confirmations.
Good luck trader!
-Overall bullish trend.
-Price action failed to turn the previous broken support structure (red zone) into new resistance, which confirmed that the pair is ready for the next upside movement.
-MACD also indicating potential upwards momentum.
- expecting a long position
**4H**:
- Recent bullish impulse started to slow down by creating bigger correction.
- currently approaching on a strong descending trendline.
- MACD is showing weak bearish momentum.
**What to do now? When to buy?**
- Wait patiently for the price action to form.
- I was expecting a pullback to the key area (0.7650- 0.7700), since the bullish exhaustion started to form.
- Then, buy for good RR ratio with confirmations.
Good luck trader!
Ordre annulé
