Bearish scenario: Shorts below 18100 with TP1: 17900... Anticipated bullish scenario: Intraday Longs above 18130 with TP...
AUD/USD finding dynamic resistance
2019-11-11 • Updated
AUD/USD is off from March 30th highs following a strong dynamic resistance found in the 200 SMA at H1 chart. Such area act as a strong barrier for buyers, as it coincides with the Fibonacci level of 50% at 0.7699. After that move, Aussie scopes to break below 0.7642 in order to reach the Fibonacci zone of -23.6% at 0.7614, which should strengthen the bearish bias across the board. However, if the 0.7716 level gives up, the next target would be the 0.7756 level.
RSI indicator stays in the negative territory, favoring to the bears in the short-term.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...