The AUDUSD has picked up quite a bit of bullish momentum in the last few weeks which has seen price explode upwards off a major weekly support level of 1.0160. Price has closed about a significant resistance level which is now holding as support.
A set of cascading inside days have formed above the support level, if support can hold price we would be interested in long positions when price breaks the top of the Inside Day setup.
Alternatively, we would like to see a bear trap breakout occur below the support level which would wash out any bears in the market and pave the way for a much stronger bullish move.
A set of cascading inside days have formed above the support level, if support can hold price we would be interested in long positions when price breaks the top of the Inside Day setup.
Alternatively, we would like to see a bear trap breakout occur below the support level which would wash out any bears in the market and pave the way for a much stronger bullish move.