If you are entering a long now as per the first audusd idea posted, take it at half risk. Be very cautious and wait for Scenario 1 to play out for longs - we need to test 0.78 as Support on H4 (pullback of higher low) before we can look for longs in that area. Either scenarios can play out depending on what the price does, or I could be totally wrong!
Scenario 2: head and shoulders reversal if the resistance holds up, in which case price can start making lower highs and lower lows down to 200ema and possibly beyond to break long term trend (unlikely to go Too far, given the weakness of the USD and no fundamental impetus to change this at the moment).
TRADING IDEA ---- NOT AN INVESTMENT OPPORTUNITY. ADULTS TAKE THEIR OWN RESPONSIBILITIES FOR THEIR ACTIONS! I DO NOT RECOMMEND JUMPING INTO ANY IDEAS PROPOSED HERE. THESE ARE NOT SIGNALS.
Scenario 2: head and shoulders reversal if the resistance holds up, in which case price can start making lower highs and lower lows down to 200ema and possibly beyond to break long term trend (unlikely to go Too far, given the weakness of the USD and no fundamental impetus to change this at the moment).
TRADING IDEA ---- NOT AN INVESTMENT OPPORTUNITY. ADULTS TAKE THEIR OWN RESPONSIBILITIES FOR THEIR ACTIONS! I DO NOT RECOMMEND JUMPING INTO ANY IDEAS PROPOSED HERE. THESE ARE NOT SIGNALS.