Dear traders,

This is Atanas, your trading tour guide.

I keep traders organized and educated, and I know all the tips and tricks.

Haha, just kidding 🙂

Actually, it has been a while since I wrote a trading analysis article.

Last time, my analysis was on on AUDUSD.

Price did come off a bit from the highs, but it has been in a tight range ever since.

That’s why, I have been paying attention and it looks like we might be onto something new again.

AUDUSD Trading Analysis 24.04.2023

Today, I am looking at the AUDUSD pair again.

It seems like the price has re-tested the supply zone and might be ready for a new plunge lower.

There is a bearish engulfing candlestick pattern as shown on the screenshot above.

Now, I will be looking for a retracement back to the 0.6700 area.

Then, I would be waiting for a confirmation from the 4H chart.

If I see one, then I might be looking to short this pair.

Let’s see where price will go next.

I am patiently waiting.

Happy Trading,

Colibri Trader

P.S.

Did you check out my recent article on Why Traders Fail?

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