Today I'm going to show you my analysis for the AUDUSD pair. This pair has been moving sideways and it's pretty difficult to predicit its movements. I drew a trend line on the H4 chart and right now the price is sitting near it. This could be a trading opportunity if we got a confirmation signal.

Hello traders!
Today I'm going to show you my analysis for the AUDUSD pair. This could be a trading opportunity if we got a confirmation signal. Let's get started!

audusd
This pair has been moving sideways and it's pretty difficult to predicit its movements. I drew a trend  line on the H4 chart and right now the price is sitting near it. I am expecting the price to bounce down.

audusd
On the hourly chart, we can see there is bearish divergence. The price is also near a strong resistance level, I am going to SHORT this pair. The only problem is there is no sell signal right now. I am waiting for any candlestick reversal pattern on the hourly chart as the confirmation. Bearish Engulfing or Shooting star would be good signals.

Position: Looking to SELL (waiting for any reversal signals)
SL & TP: SL should be above 0.7180 and PT should be around 0.7085

Right now I can see Bearish Engulfing is performing. I need to wait. If I see any candlestick reversal pattern, I will enter the trade.

Good Luck and Happy Trading!

P.S. If you have any question that needs immediate answer, please post it in the Facebook Comment section.


RICO FY
Forex Analyst and Trainer at PT. MENTARI MULIA BERJANGKA