FX.co ★ hickle.manuela | Comprehensive Analysis in Trading: Mastering Methodologies

AUD/USD Structurally, the asset still looks like a continuation of the bullish scenario, and in my case the target is the nearest liquidity level (fractal) at 0.7088. The previous trading week closed with a strong bullish candle, updating the high of the previous candle and closing with the body above the 0.7027 level. From the start of the week I was expecting a correction (decline) of at least 50% (0.6978), and in the highlighted area to get a reversal pattern on the lower timeframe in favor of buying the asset. So far the trading idea is in play, we got the reversal, price did not go below the light green area, and now we can consider a buy option only after updating the current weekly candle high at 0.7065, but clearly not today. Although if we finish the move on the news, it might be possible to enter a trade intraday. Right now many pairs (assets) are clearly in a flat range. They’re waiting for important news, plus it’s Friday, so during the US session we might see a spike in volatility and completion of targets. For now I’m waiting for new entry conditions.