Long Trade Opportunity Against a Bearish Backdrop
In the wake of last Friday's NFP News, AUDUSD, like many USD pairs, took a significant hit. Yet, the early Monday session reveals a turning point at the 0.65000 level, presenting a compelling case for a long trade. Here's a detailed look at the conditions shaping this outlook:
These factors collectively pivot my analysis towards a long trade opportunity, aiming to target the Fair Value Gap that emerged amid the NFP News. These analysis is just a probability, and honestly not a reliable one since we are still on the early hours of the market.
- Significant Rejection at 0.65000: Early Monday's market session showcased a pronounced rejection of the 0.65000 level, hinting at underlying bullish momentum.
- Bullish Pinbar Candle: A bullish Pinbar candle emerged, indicating strong rejection against a recent bullish order block, further supporting the potential for upward movement.
- Volume Analysis: While the volume is slightly below our usual threshold, its significance in the early hours of the market cannot be overlooked, suggesting active participation.
- MFI Index Confirmation: The MFI Index displayed a green market, aligning volume with price action to confirm the market's rejection of lower levels.
These factors collectively pivot my analysis towards a long trade opportunity, aiming to target the Fair Value Gap that emerged amid the NFP News. These analysis is just a probability, and honestly not a reliable one since we are still on the early hours of the market.