AUDUSD is attempting a breakout
Will try to update with my actual trade if possible.
Thank you for reading , be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
------------------------------------------------------------------------------------------------------------------------------------------------------------
Good luck, keep your stops tight..
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
- The price has managed to break the resistance of the main falling channll
- Closed above the 50-days SMA
- Bullish divergence on RSI
- Retesting the latest major swing high
- A break above this latest LH at 0.7900 might confirm further upside as the price would invalidate the structure of lower highs and lower lows, recording a anew higher high.
What's next
1)Long Scenario: Will wait for a confirmed breakout above that resistance through a daily closing. Then move to the four-hour chart to time my entry targeting 0.8020 then 0.8110.
2)Short Scenario: A bearish signal below 0.7900 resistance over the four-hour time-frame. e.g. Bearish pin bar candle, double top formation, support breakout. Targets for this scenario at 0.7740 and 0.7650.
Will try to update with my actual trade if possible.
Thank you for reading , be one of the first members of my new trading portal, check my new website thefxchannel.com/ , vote and subscribe. Thank you
------------------------------------------------------------------------------------------------------------------------------------------------------------
Good luck, keep your stops tight..
twitter.com/thefxchannel
www.facebook.com/thefxchannel
plus.google.com/+Thefxchannel0
My best regards
Technician
