AUDUSD EXPECTATION

Tendency: Uptrend (Bullish)
Structure: Wedge
Observation: i. Connecting two trend lines through the respective highs and lows of a price action over period of 16months (since oct. 2018).
ii. Falling Wedge connotes that price has been falling over this period of time as the trend makes its final downward move.
iii. The breakout above the upper trend line at 0.68900 appears to be an uptrend clue.
iv. Price action appears to be experiencing a reversal of this breakout in anticipation of the rally.
v. price accelerating towards our Moving Averages.
Trading plan: BUY opportunity with a minimum potential profit of 550 pips.
Risk/Reward: 1/3
Potential Duration: 10 to 20 days

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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Past performance is not necessarily indicative of future results.