AUDUSD: Bullish market condition, looking for long opportunities

Hope you all had a merry Christmas with your loved ones.

After taking a few days off (and hope you did too) I’m back to trade the FX market. I see that the market didn’t move that much, just a few pips here and there.

I see most pairs are trading near long term important levels therefore we need to wait for the market to confirm either a breakout or rejection of such levels. However, a few of them are trading in a clear market condition, one of them is the Australian Dollar.

The AUDUSD is trading in a bullish market condition, it broke the short term resistance level during in the Asian opening, setting it up for a bullish market condition:

AUDUSD
AUDUSD

My Trading Plan:

As long as the AUDUSD trades above 0.8829 I will look for long trade opportunities. My next LT resistance level is at 0.9100

All short opportunities will be ignored.

Trade Safe!
Raul Lopez

AUDUSD Analysis, australian dollar, Forex majors


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .