– Daily AUD/USD BB Bands showing potential expansion to the downside.
– Weekly AUD/USD BB Bands showing 2 parallel lines, indicating sideway markets.
– Things they have in common are a Weak Directional Movement Index.
– This suggest the Daily and Weekly Chart might turn opposite anytime.
– However based on system based trading, on the 4 hours basis, the call for downside is fulfilled.
– Would consider selling at 1.0290(2nd intraday resistance), Stop Loss at 1.0354.
– Profit taking at intraday support (1.0175)
1) 4 hours ATR For AUDUSD is at 0.0032. ATR= Average True Range.
2) Daily ATR For AUDUSD is at 0.0090. ATR= Average True Range.
30 Mins AUD/USD Intraday Chart
4 Hours AUD/USD Chart