NZDCAD In Profit : AUDUSD Short Term Idea
Tues 21st November 2023 : Daily Forex Strength Analysis
Today we’re looking at Trading Setups in:
- AUDUSD (Primary Focus Pair)
- AUDCAD (Covered In Video)
- NZDCAD (Covered In Video)
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Our Interest (pending order)/Open Interest (live position)
| AUDUSD (Long) | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Alert Set | 0.6540 | ||
| Entry Price | If Alert Is Triggered Place A Buy Stop Order At 0.6550 | ||
| Stop Loss (Min) | 0.6520 | -30 Pips | |
| Stop Loss (Max) | |||
| Profit 1 | 0.6600 | +50 Pips | 1 : 1.3 |
| Profit 2 |
AUDUSD has breached the key D1 resistance highs of 0.6500 opening options to trade long to the next resistance level of 0.6600.
Our live forex strength and weakness tables, show USD as W1 on both the day and trend tables.
On the H1 time frame we can see price formed support at 0.6540 on 20th November.
This support could be where buyers get involved again on the current H1 bullish trend.
To add confluence we can see the H1 50 moving average is trading through the H1 support zone.
If price were to break below the H1 50 moving average then back above we could look to enter on momentum.
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Primary Focus Pair Chart:
Technical Observations:
- AUD is S2 and USD is W1 on the day traders table.
- Price of AUDUSD has traded through key resistance of 0.6500.
- H1 time frame is showing support at 0.6540.
09:00 GMT/BST Forex Strength Vs Weakness Tables:
