Posted on Leave a comment

AUDUSD 4 hour tf analysis: 3 crucial info. you must know

The 4 hour timeframe of the AUDUSD shown in this analysis captures over 4 months of price action. Commentary is provided below based on the numbers marked on the chart.

usdaud, usd forecast, audusd chart analysis

(1) A double top (ideally bearish) chart pattern did form between September 7, 2017 and January 31, 2018, with the chart pattern confirmed on May 2, 2018 at ~ 0.7515.

The width of the double top is indicated by the vertical red arrow and a projection of the width from confirmation downwards is very useful in determining the price level where the bearish price swing will terminate.

(2) Bearish price channel that helps provides a perspective for the current trend in the AUDUSD. A close outside of the bearish channel is the first sign of a possible trend change. Price action exiting the channel however does not automatically imply the resumption of a bullish trend in the AUDUSD.

(3) 0.72483 and 0.72082 indicate the latest/ most recent price level of supply in the AUDUSD and an earlier entry into a long (buy) position involves buying as soon a breakout occurs above 0.72483.

Interested in Bitcoin (BTCUSD)? Check out our analysis here. Moreover, AUDJPY chart analysis can be found here.

Join our premium research and analysis group for more information on AUD USD forecast, other cryptocurrencies and Foreign Exchange (FX) pairs.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.