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Wednesday, May 25, 2022

AUDUSD Re-entry in an Uptrend line reached -700 Points
1 mins well spent

AUDUSD breakout Analysis

In the 4-hour chart, AUDUSD has moved in an Uptrend by forming higher highs, higher lows.

AUDUSD has broken the bottom level of the Uptrend line.

AUDUSD is moving in a downtrend for a long time in the weekly time frame chart.

audusd weekly timeframe wait for breakout or reversal

Now, AUDUSD price standing at the top zone of the downtrend line. however, breakout not yet confirmed.

audusd broken the bottom level of Uptrend line

But in 4-hour time frame, after the breakout of uptrend line, AUDUSD Sell signal is given.

AUDUSD made a ranging movement and bounced back by re-entering into the Uptrend line again. 

US Jobless claims result came in Negative, this further weakens the US Dollar.

This made the Sell Signal to reach the stop-loss price.

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