AUD is showing us bullish movements and here are a few things I see:
Low
Shown on higher timeframe and current
RSI Oversold
Potental Support
Summary:
We are counter trading the market, since it's been on a downtrend, and no higher low has been shown.
The Goal:
Anything above the horizontal solid line near price, or the one higher near the major bearish push, but we must remain patient as the market just opened.
The Con:
Market just opened, some might see the market still bearish due to the previous push, so expect heavy volatility .
What do you think about this analysis? Would you like to see more? Let me know in the comments, giving a like on this, or reaching out via Direct Message! - ecryptfx
Low
Shown on higher timeframe and current
RSI Oversold
- Most see this as an indication of price being bullish
Potental Support
- As seen at the current wicks
- Which can be seen as a potential for price to "re-test"/"bounce"
Summary:
We are counter trading the market, since it's been on a downtrend, and no higher low has been shown.
The Goal:
Anything above the horizontal solid line near price, or the one higher near the major bearish push, but we must remain patient as the market just opened.
The Con:
Market just opened, some might see the market still bearish due to the previous push, so expect heavy volatility .
What do you think about this analysis? Would you like to see more? Let me know in the comments, giving a like on this, or reaching out via Direct Message! - ecryptfx