AUDUSD Long
Daily Bias Long
Fundamentally, USD market is expecting rate cut in Sept. Dollar is very bearish.
AUD news quite neutral.
Higher TF in H4/Daily, Price broken out of consolidation area. Price retrace back into the higher TF broken resistance.
After returning to that level, price moved bullish and broken a lower TF H1 resistance level and Bearish momentum trendline.
Long trade setup at broken H1 resistance level SL below the swing low. Targeting Next Daily Swing high for R:R 1:4
Confluence
H1 TF - Broken resistance and broken bearish trendline
D TF - Broken resistance level rejection and close to Daily TF bullish Trendline
Candle - Bullish momentum candle broke the H1 resistance
Fundamentally, USD market is expecting rate cut in Sept. Dollar is very bearish.
AUD news quite neutral.
Higher TF in H4/Daily, Price broken out of consolidation area. Price retrace back into the higher TF broken resistance.
After returning to that level, price moved bullish and broken a lower TF H1 resistance level and Bearish momentum trendline.
Long trade setup at broken H1 resistance level SL below the swing low. Targeting Next Daily Swing high for R:R 1:4
Confluence
H1 TF - Broken resistance and broken bearish trendline
D TF - Broken resistance level rejection and close to Daily TF bullish Trendline
Candle - Bullish momentum candle broke the H1 resistance
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