It has been a while I have not posted a trading analysis, but here is my latest one.
Just a quick recap before that on what I was looking at a few weeks ago.
I was tracking the German stock market and it was looking poised for a bearish correction.
Indeed this is what happened.
DAX went down over 600 points before finding ground and settling at this level.
Currently, it is range-bound between an area of support and resistance.
AUDUSD Trading Analysis 22 July, 2021
Today, I am looking at AUDUSD.
I am looking at the Weekly chart and it looks like price is getting ready for a bullish continuation.
There is a major support level and the weekly candle is a pin bar.
ATTENTION: the weekly has not closed yet, but we are 1 day away from Friday.
So, I will be paying very close attention to it in the next 24 hours.
If all goes according to plan, next week might be a bullish week for the Aussie.
I would ideally like to see a daily and 4H confirmation before committing to a trade.
Have you checked my article on 5 Fundamental Trading Strategies?