Daily technical & fundamental analysis for multi-forex pairs

AUD/USD analysis on Jan 15, 2020
We entered buy at 0.69.

These are the technical factors that made a bullish setup:

- price made higher low but MACD made lower low, which is a hidden bullish divergence

- Bread & butter pattern mentioned in previous analysis was already completed at 61.8% of 1st upward retracement/swing (61.8 of 1st U R/S)

- we got two bullish engulfing H4 candles, although the last was still under formation and will complete in an hour

- ABCD100 and 50% of down swing (50 of D S) are making a resistance cluster, which is next target.

AUD USD analysis on H4 by Keon Consultancy on Jan 15, 2020.png

Risk: If H4 candles closes below C, the setup will fail.
 
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