AUDJPY (Daily): The Last ASCENDING CHANNEL RETRACEMENT
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis, support the idea with a big LIKEđź‘Ť and don't forget to SUBSCRIBE my channel, you won't miss anything!
TECHNICAL ANALYSIS:
Since the end of November 2020, the price has been following a strong uptrend, bouncing many times on the dynamic S/R Level.
The price just got an interesting and important weekly resistance area and the next price action will be absolutely useful to understand the next market's movement.
CONCLUSION:
I think the market could get a short retracement trying to reach the dynamic support level of the ascending channel.
The price is overbought and during the last two days it showed a strong momentum. It could finally be the right moment of this market's inversion.
Stay tuned for updates!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
TECHNICAL ANALYSIS:
Since the end of November 2020, the price has been following a strong uptrend, bouncing many times on the dynamic S/R Level.
The price just got an interesting and important weekly resistance area and the next price action will be absolutely useful to understand the next market's movement.
CONCLUSION:
I think the market could get a short retracement trying to reach the dynamic support level of the ascending channel.
The price is overbought and during the last two days it showed a strong momentum. It could finally be the right moment of this market's inversion.
Stay tuned for updates!
What's your opinion? Share your idea writing a comment!
Trade Safe and Responsibly
Gianni
