AUD/USD Technical Analysis
- Bullish continuation
- ATR is 97 pips
- CBR bullish pattern
- Temporary bottom has been established
- M H5 is the target
MEGATREND MAs: Bullish
D1 Chart AUD/USD
- Order block
- CBR pattern
- Entry zone
- Intraweek target
The AUD/USD is in uptrend. The market has 97 pips of the ATR which indicates bullish market conditions. At this point we can assume that the price will continue upwards towards camarilla M H4 pivot point 0.6962. However, a break higher will lead the price towards 0.7015 and 0.7088 respectively.
I am long and have been buying dips as technicals and fundamentals suggest longs. CBR pattern is formed when the market makes two back to back pinbars. It is a part of the MEGATREND trading course and it’s my proprietary trading candlestick pattern. The suggested ATR projection for intraday trade is 0.7002. AUD and GOLD also have correlation so further strengthening of AUD is positive for GOLD too.
This analysis, all the patterns and all entry signals and targets are a part of the Megatrend system Join my Telegram group to receive trading signals.
Cheers and safe trading,
Nenad
Summary of December trading results is HERE (click to see)
Cheers and safe trading,
Nenad
