AUD/UAD developed a bullish momentum during the last two weeks... It seems that this price action will continue the bullish momentum this week, but need some confirmations.
We will review the different scenarios as the pair can either bounce for bearish momentum or expand the bullish momentum.
This article will discuss the expected scenarios for the pair during the coming days using wave pattern, support, and resistance and SWAT software.
AUD/USD 4H SWAT Chart
The below chart shows that the pair developed a bullish momentum...And here are the main conclusions:
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Price is above the 144EMA
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The price breaked the 21 EMAS
For the moment I expect the bullish momentum to continue , So traders should look for long setups only .
AUD/USD 15 Min Chart
Now it’s time to use the SWAT 15 min Chart to determine the entry points ...Here are the main developments to consider:
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The price breaked the 21 EMA with a blue candel.
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Our target PP level 3 around 0.72577.
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The ST will be under the 2nd fractel around 0.71797.
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I advise traders always to protect their profit or use trailing stops.
Thanks,
Ahmed
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