AUD-USD Sell opportunity ahead

in Account Booster 👍3 years ago

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IMPORTANT !!!

THIS IS NOT FINANCIAL ADVICE AND SHOULD NOT BE NOTED LIKE ONE, DO YOUR OWN RESEARCH AND TRADE AT YOUR OWN RISK. REMEMBER TO ALWAYS USE A STOP LOSS AND NEVER TRADE WITH MONEY YOU AREN'T WILLING TO LOOSE, LEVERAGED TRADING IS EVEN RISKIER.

For AU and London open I'm bearish accordingly to the 4hr TF. USD is getting stronger now that Omicron fear has been taken by the market all last week and further lockdowns or economic paralysis has been discarded by the moment. I still believe that we will have some retest of the 4hr resistance before going to test lower supports. We can see or expect similar behavior as the circle on the left. (SL above 4hr wicks).

For buys I would expect a clear break through the 4hr resistance and a pullback that confirms further upside move, this only mixed with a weaker dollar and economic fear. We also have the "last" trading week before holidays and volume and spreads won't be the same so be careful.

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On the 30m chart we can appreciate that we can have a range before London and it is difficult to trade right now, so I wouldn't recommend until you get further confirmations.

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