AUD/USD Up 2 Pips On Hourly Chart, in a Downtrend Over Past 30 Days; Price Base in Formation Over Past 90 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
May 23, 2022 12:49 GMT
Over the past 88 days, AUDUSD’s price has been in a clear downtrend, falling by about $0.00 per day.
Over the past 134 days, the trend for AUDUSD’s price has been choppy and unclear. It has oscillated between $0.6864 and $0.7584.
AUDUSD’s price has moved down $0.07 over the prior 16 months.
AUDUSD has a price of $0.7102, up 0.61% from its value 24 days prior.
+ 500 – Internal server error
+ 500 – Internal server error
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
For additional context, note that price has gone up 5 out of the past 10 days.
Volatility for audusd has been contracting over the past two weeks relative to volatility over the past month.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
Price action traders may also wish to note that we see a pin bar candlestick pattern on audusd.
It’s been a feast for bulls operating on an hourly timeframe, as audusd has now gone up 4 of the past 5 hours.
It’s been a feast for bulls operating on an hourly timeframe, as audusd has now gone up 4 of the past 5 hours.
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
This is a reversal of the price action on the previous hour, in which price moved down.