AUDUSD 4hour Analysis November 20th, 2022
AUDUSD Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are still very bullish but price action has been consolidating near our 0.67000 resistance zone.
Going into this week we want to identify structure before getting into a trade. Ideally we see price action retrace to 0.65500 and confirm a higher low.
If this happens we can confidently enter long.
Trade scenario 2: The other likely scenario is AU moving higher now without a more significant pullback. Look for higher lows above 0.67000.
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Overall we are still very bullish but price action has been consolidating near our 0.67000 resistance zone.
Going into this week we want to identify structure before getting into a trade. Ideally we see price action retrace to 0.65500 and confirm a higher low.
If this happens we can confidently enter long.
Trade scenario 2: The other likely scenario is AU moving higher now without a more significant pullback. Look for higher lows above 0.67000.
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