AUDUSD Forex cross pair is reacting to a weekly supply level located around 0.7232 price area. Price has reacted strongly to that weekly supply zone creating brand new imbalances on lower timeframes like the daily chart. There is a new daily supply zone created around 0.7226 as a reaction to weekly supply zone.
Weekly timeframe is still in a downtrend. Dollar Index is getting stronger as well creating new daily demand imbalances in a big picture uptrend.
We don’t need fundamental analysis in order to make a trading decision when we analyse the markets using supply and demand imbalances.
Weekly timeframe is still in a downtrend. Dollar Index is getting stronger as well creating new daily demand imbalances in a big picture uptrend.
We don’t need fundamental analysis in order to make a trading decision when we analyse the markets using supply and demand imbalances.