AUDUSD Trading Analysis

@Colibritrader

Dear traders,

It has been a good week so far.

I am still in a couple of long-term trades in DAX.

If you have missed my article on DAX, please re-check it HERE.

AUDUSD Trading Analysis

I am looking at the chart of AUDUSD and it looks definitely bullish!

There is one big “IF”, though.

The employment report.

It is due tonight at 1:30 (GMT time) and it could change the course of AUDUSD or keep it.

From a price action perspective it looks like bulls are winning over bears in this tug war.

There is a pin bar on the daily chart and seems like price has bounced off the nearest multi-month support level.

This could very much be a turning point for the long-term of AUDUSD.

I will be curious to see where AUDUSD will go next.

It could very much be the 0.8000 area…

Happy Trading,

Colibri Trader

p.s.

Have you read my article on Support and Resistance

 

 

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