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:
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.