AUDUSD MARKET ANALYSIS (POST U.S ELECTION)

 Good morning traders, I hope you're closely observing the U.S elections and watching how it's been affecting the markets. I've been closely watching AUDUSD as price rallied into a key supply zone on H1, H4 & daily at 0.66445 & 0.66160 which was the origin of the previous drop to the H1 & H4 low at 0.65400. Price formed a rejection wick with candle closes inside supply having filled the range from the key H1, H4 and daily supply zone to the H1 & H4 low at 0.65400 and back to the key H1, H4 and daily supply zone. Took sell positions during Asian session at 0.66440 with SL at 0.66640. Setup taken is a rally base drop, a reversal setup and my target is at 0.64850. Price dropped with strong momentum during Asian session making a 130 pips drop to 0.65145, taking out the previous H1 & H4 low and forming lower lows. I anticipate a continuation of the drop lower for price to fill the full daily range back to the major daily demand zone at 0.64818 & 0.64545.















Comments

Popular Posts