Hi all,
Here is the today's AUD/USD Daily chart,
at first i want to say some key point about this market.
- Price did hit a strong resistance level
- Market run by producing a very crystal clear bear channel
- Recent strong resistance area are 0.7653 and 0.7798
- Very strong support area is 0.7505, because price went back very strongly on past few days ago.
- Price gave us a big bullish reversal candle yesterday, which is indicating a good buy signal.
BUT..........
because of a strong bear channel market, this strong candle signal is not so much strong as i said, there are big possibility that market may be down again when touch the near two resistance level or down even no touch on that resistance level, so it is a big hesitation for us. So i am waiting to see a clear picture of this market and want to be a seller on this market on the resistance area...
Here's the end of this Analysis. If you want me to write more about this forex pair, then please vote, resteem and comment for me....
I wish you a better trading career,
Syeed Hossain
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.