AUDUSD 4hour Analysis September 13th, 2020
AUDUSD Long idea
Overall we are very bullish on all major timeframes and will continue with that trend
On the 4hour we can see a large ascending channel and recently price action formed a higher low and new structure at 0.71875, our 88.6% fib level.
As price pulls back we’re looking for entry opportunities on a break of the prior lower high around 0.73000 with a confirmed higher low above. Look to enter long on strong bullish setups after the higher low. Target higher toward our 0% fib level, resistance levels and negative fib levels.
Overall we are very bullish on all major timeframes and will continue with that trend
On the 4hour we can see a large ascending channel and recently price action formed a higher low and new structure at 0.71875, our 88.6% fib level.
As price pulls back we’re looking for entry opportunities on a break of the prior lower high around 0.73000 with a confirmed higher low above. Look to enter long on strong bullish setups after the higher low. Target higher toward our 0% fib level, resistance levels and negative fib levels.