PAIR IN FOCUS: AUDUSD
ACTION: LONG
Similar to AUDCAD analysis, there are conflicting RSI divergences on different time frames (i.e. H1 and Weekly).
Overall, looking towards the weekly price action, which may take a longer time to reach TP because of the time frame used.
On H1, there is BEARISH RSI divergence, while on the Weekly chart, there is BULLISH RSI divergence.
Plan would be similar to AUDCAD, to look for shorts on H1 chart, and then change bias when price rebounds and prints bullish price action.
The TP Level has been indicated, determine your own Stop Loss for this trade.
ACTION: LONG
Similar to AUDCAD analysis, there are conflicting RSI divergences on different time frames (i.e. H1 and Weekly).
Overall, looking towards the weekly price action, which may take a longer time to reach TP because of the time frame used.
On H1, there is BEARISH RSI divergence, while on the Weekly chart, there is BULLISH RSI divergence.
Plan would be similar to AUDCAD, to look for shorts on H1 chart, and then change bias when price rebounds and prints bullish price action.
The TP Level has been indicated, determine your own Stop Loss for this trade.
