In AUDUSD, price is currently trading in a continuation setup around the 10–20 EMA zone. Price remains above the 50 EMA, and at the same time, it is also holding above the 10–20 EMA, which keeps the overall structure bullish.
However, the main concern right now is that the 10–20 EMA is still tightly compressed and not showing strong bullish separation yet, which means momentum confirmation is still somewhat lacking. Despite that, the latest daily candle managed to close strongly above the EMA zone, which is an encouraging sign for buyers.
Another important factor is that the previous weekly candle closed bullish, and at the same time, we are entering a new monthly candle, which can often bring continuation momentum if higher timeframe strength remains intact.
For now, I’m expecting possible bullish continuation, but I want to see strong bullish price action from this zone along with a proper flip and confirmation before considering any long positions.
Until then, waiting for confirmation and observing how AUDUSD unfolds.
However, the main concern right now is that the 10–20 EMA is still tightly compressed and not showing strong bullish separation yet, which means momentum confirmation is still somewhat lacking. Despite that, the latest daily candle managed to close strongly above the EMA zone, which is an encouraging sign for buyers.
Another important factor is that the previous weekly candle closed bullish, and at the same time, we are entering a new monthly candle, which can often bring continuation momentum if higher timeframe strength remains intact.
For now, I’m expecting possible bullish continuation, but I want to see strong bullish price action from this zone along with a proper flip and confirmation before considering any long positions.
Until then, waiting for confirmation and observing how AUDUSD unfolds.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.