Dear traders,

Last week I shared with you my trading analysis on USDCAD.

So far, we are seeing the pair going as expected.

There was a bullish rejection and a bearish engulfing pattern on the 4H chart.

Looks like all the stars are aligning and we might see more sellers joining this bearish trend.

AUDUSD Trading Analysis

Today I am looking at the AUDUSD pair.

There is an inside bar on the daily chart.

It bodes well for a continuation of the uptrend.

I would be cautious for the imminent supply zone that is located just above the price.

Therefore I can expect two scenarios:

  1. Scenario 1: Price breaks above the supply zone and continues the uptrend
  2. Scenario 2: Price goes above the zone and then rejects this level and turns down

Those two scenarios are also shown on the screenshot above.

Happy Sunday,

Colibri Trader

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