AUDUSD Trading Analysis

 

@Colibritrader

Dear traders,

I have been watching the trading arena with a lot of interest this week.

I have shared with you my thoughts quite a bit on Twitter this week and I was expecting to see a couple of trades.

Fortunately, I did manage to take a position in both. The first trade was in USDJPY and here you can see a link to when I posted it on my Twitter page.

I shared my thoughts with you on the 28th of June, when there was a bullish engulfing pattern on the 4H chart as you can see from the screenshot from Twitter below:

audusd trading analysis

The second analysis was again posted the same day on my Twitter page. I was talking about the USDCAD and a double rejection on the daily and 4H timeframes.

AUDUSD Trading Analysis

Since I shared it with you, the price has fallen a lot and is reaching for the next support level.

 

AUDUSD Trading Analysis

Today, I am looking at the AUDUSD. There is a bullish engulfing pattern on a major support level.

You need to be careful with this one, since the major trend is bearish.

Even with this in mind, I still believe that price action is much more bullish than bearish.

I will check how price will act tomorrow and possibly take a small long position.

Happy Sunday,

Colibri Trader

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