AUDUSD | PERSPECTIVE FOR THE NEW WEEK
With over 250pips in our direction(see link below) before the correction, it appears we are in another opportunity to take a ride on the rally again. It is worthy to note the evidence of momentum building up at the Demand zone ($0.72500) as the AUD/USD pair recovered the ground lost at the beginning of the week on Friday, to settle and close above the Demand zone.
Tendency: Uptrend ( Bullish )
Structure: Trendline | Supply & Demand | Breakout
Observation: i. The line drawn under pivot lows emphasizes the prevailing direction of price as price touches and spring from the Demand zone.
ii. Breakout of Rejection Trendline is another confirmation that points at an Uptrend bias.
Trading plan: BUY confirmation with a minimum potential profit of 250pips.
Risk/Reward: 1:4
Potential Duration: 3 to 7 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Tendency: Uptrend ( Bullish )
Structure: Trendline | Supply & Demand | Breakout
Observation: i. The line drawn under pivot lows emphasizes the prevailing direction of price as price touches and spring from the Demand zone.
ii. Breakout of Rejection Trendline is another confirmation that points at an Uptrend bias.
Trading plan: BUY confirmation with a minimum potential profit of 250pips.
Risk/Reward: 1:4
Potential Duration: 3 to 7 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Trade smart. Trade consciously
