Good evening team my main focus this week will be the AUDUSD, my thesis is that there is a possible buy trade coming if bullish price action can present after some sharp selling was seen into the end of the week. The below charts indicate that the US Index has bounced but there is a still on strong downtrend in play and risk on sentiment is still present. That can be seen the strong bullish performance of the S&P500 as well as gold which is strongly correlated to the Aussie dollar. In my video I offer some analysis as to what to look out for before entering a trade on the AUDUSD, where if can hold above 0.7140 as shown with that purple support level into the Monday and Tuesday trading session and if bullish price action is offered then a buy position is very likely on the cards. From the below charts the theme is still risk on although I will acknowledge that this is irrational given the massive global economic hit that has impacted the world, but as trades we must remember that the markets are irrational and can continue to be longer than you can remain solvent.

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By scott.andrews275

Scott Andrews is an Australian based trend and swing trader using the daily, 4 hour and 1 hour time frames. He has previously worked in China as a performance coach for their Winter Olympic Team and runs a YouTube channel as well as remotely trading for a London Prop Firm.

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