AUDUSD Trading Analysis


Dear traders,

It has been a while since I last wrote an analysis on a currency pair.

Last trading idea was on crude oil and it did not materialise. I was waiting for a confirmation from the 4H chart, which never came and actually price tumbled afterwards.

Today, I am looking at the AUDUSD pair

AUDUSD Trading Analysis

I can see a bearish engulfing pattern that formed on the daily chart.

It occurred just around a minor supply zone that has formed around the 0.7000 area.

I will be looking for a confirmation from the 4H chart during tomorrow’s trading session.

So far the price action looks bearish, but I still want to have a double-confirmation.

Happy Trading,

Colibri Trader


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