AUD/USD long vs short battle on 27/7
red down parallel trend= recent correctional trend
green up parallel trend= second upward trend
purple rectangle= recent battle field (0.709~0.712)
blue rectangle= recent long-side support (0.707~0.708)
pink circle = recent testing upward trend support
supporting line : 0.703~0.704
Personal comment:
Obviously, the momentum for moving up is lower than before.
On 27/7, doing day trade hourly is fine. Just trade within 0.708 (long) & 0.710(short)
stop lost position / stop gain position: Red downward trend line & Green upward trend line
Yes, it is not that profitable and risky
Without any bad news from geography politics, AUD/USD may be struggling between 0.708~0.712 at least a week.
I don't see any positive momentum to push AUD getting higher and higher temporary.
green up parallel trend= second upward trend
purple rectangle= recent battle field (0.709~0.712)
blue rectangle= recent long-side support (0.707~0.708)
pink circle = recent testing upward trend support
supporting line : 0.703~0.704
Personal comment:
Obviously, the momentum for moving up is lower than before.
On 27/7, doing day trade hourly is fine. Just trade within 0.708 (long) & 0.710(short)
stop lost position / stop gain position: Red downward trend line & Green upward trend line
Yes, it is not that profitable and risky
Without any bad news from geography politics, AUD/USD may be struggling between 0.708~0.712 at least a week.
I don't see any positive momentum to push AUD getting higher and higher temporary.
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