AUDUSD 4hour Analysis November 29th, 2020
AUDUSD Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Price action continues bullish. We can look for entries after higher lows form near 0.73350 & 0.74000 with strong bullish setups. Keep in mind the above yellow zone is a major supply zone. The most conservative entry would be on a confirmed higher low above this zone.
Trade scenario 2: Price action goes bearish. If we see a lower high below 0.73350 with strong bearish setups look to target lower toward our 38.2% fib level.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Price action continues bullish. We can look for entries after higher lows form near 0.73350 & 0.74000 with strong bullish setups. Keep in mind the above yellow zone is a major supply zone. The most conservative entry would be on a confirmed higher low above this zone.
Trade scenario 2: Price action goes bearish. If we see a lower high below 0.73350 with strong bearish setups look to target lower toward our 38.2% fib level.