AUDUSD - BEARS IN FULL CONTROL

Hey traders,

This is my analysis of AUDUSD before the markets open this week.

AUDUSD is currently in a downward phase.

Last week we had a minor retrace to the up side before bears were able to take control again and close with 3 consecutive bearish closes.

Price is now at the open of the 1st bullish candle in the minor retrace.

I see price breaking this level and continuing to the downside to the purple S/R.

Once you are able to determine if a currency pair is in it's upward or downward move, everything becomes easier and it's all about spotting entries.