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30.04.202107:54 Forex Analysis & Reviews: Daily Video Analysis: AUDUSD approaching trendline resistance, potential for a reversal

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Today we take a look at AUDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is approaching the descending trendline resistance, where we could see a reversal at sell entry, in line with 61.8% Fibonacci retracement, and further drop towards our take profit levels, which is in line with our horizontal swing low support and -27.2% Fibonacci retracement.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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