The following is the AUDUSD four hour chart as of Jan. 17th, around 11 PM EST. If you observer the chart you can see that the chart is moving in a channel with a resistance line at the top and a support line at the bottom. Currently the chart is the bottom support line. And if you observe the CCI it is in the over sold region and it trying to cross above the -100 line. And also if you observe the Stochastics it is also in the oversold region. It is also trying to cross above the 20 line. At this point if a bullish engulfing candlestics are formed I think its a good opportunity for a long trade. What do you guys say? Also observe the hourly chart.
AUDUSD Four Hour Chart:
AUDUSD four hour chart moving in a channel
AUDUSD Hourly Chart:
AUDUSD Hourly Chart
Great Charts. I’m watching this on a 4 hour chart it just dropped below support. watch this closely the market is changing.