AUDUSD Buy Idea
Diupdate
AUDUSD looks like it may get in the region between 0.74190 and 0.73731, and then shoot up. Last time it was in that region was May last year.
FOR EXTRA CONFIRMATION: Note on the D1 chart the rsi is currently below 30 and the stochastic is below 20.
On the weekly chart it shows it still has room to move but I believe it will also go below 30 on rsi and 20 on stochastic, still being in around the region of the support line.
I think this pair will shoot up to around 0.75803 (resistance - aound 120 pips) before retracing and retesting the line. If it breaks the resistance, it may just go up to 0.76588 (around 240-270pips). If not, it may just head back to the support and retest that zone. That's my analysis for this pair and should keep an eye out for it, but to me it looks like a pretty good long term buy
FOR EXTRA CONFIRMATION: Note on the D1 chart the rsi is currently below 30 and the stochastic is below 20.
On the weekly chart it shows it still has room to move but I believe it will also go below 30 on rsi and 20 on stochastic, still being in around the region of the support line.
I think this pair will shoot up to around 0.75803 (resistance - aound 120 pips) before retracing and retesting the line. If it breaks the resistance, it may just go up to 0.76588 (around 240-270pips). If not, it may just head back to the support and retest that zone. That's my analysis for this pair and should keep an eye out for it, but to me it looks like a pretty good long term buy
Catatan
UPDATE:That trade setup which I posted the other day would of hit around 160 pips! If you entered that you would of made some good money.
I unfortunately missed the movement though myself as I thought it was going to go lower before it shot up
It's retracing again right now though to about the support zone I think so there could be possibly another chance
I think this pair could go up to around 0.76588 if it crosses the resistance and past trend line and we could then be looking for another 150 pip trade
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