Hi Traders. It's been awhile since I last updated on AUDUSD. Recently I've noticed some really interesting move on AUDUSD, so just thought of sharing my POV here.
If you take a close look at AUDUSD, Price Action had been Bearish since the peak at 0.8 level on Feb 2021.
Arguably, some of you might say the market is in a downtrend. Yes, I think its partially true.
But the way I like to determine whether are buyers OR sellers' in control, is by comparing the momentum.
Let's split it into two parts.
A. March 2020 - Feb 2021
That's how I define a true momentum, when Price Action's clearly forming higher highs higher lows sequence with tight pullbacks (less indecision)
B. March 2021 to date
It looks more like a correction to me personally. Yes, price still formed sequence of lower highs & lower lows, but look at how corrective the move was.
Since price has rejected 0.6710, I will be very interested to observe the follow through, whether do we see a strong push towards the upside, or further decline.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
If you take a close look at AUDUSD, Price Action had been Bearish since the peak at 0.8 level on Feb 2021.
Arguably, some of you might say the market is in a downtrend. Yes, I think its partially true.
But the way I like to determine whether are buyers OR sellers' in control, is by comparing the momentum.
Let's split it into two parts.
A. March 2020 - Feb 2021
That's how I define a true momentum, when Price Action's clearly forming higher highs higher lows sequence with tight pullbacks (less indecision)
B. March 2021 to date
It looks more like a correction to me personally. Yes, price still formed sequence of lower highs & lower lows, but look at how corrective the move was.
Since price has rejected 0.6710, I will be very interested to observe the follow through, whether do we see a strong push towards the upside, or further decline.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
