My first analysis this week starts with the AUDUSD.

There will be one for AUD this coming Wednesday, it’s the CPI year-over-year. The last 3 reports are less than forecasted. This is a major data to keep an eye on that impacts the AUDUSD.

I’m predicting a better than expected figures.

Last Friday’s trade plan has exited in a stop loss:

https://www.finlogix.com/analysis/20240223/audusd-intraday-analysis-and-trading-plan-for-february-23-2024

Re-assessing AUDUSD’s high timeframe candles:

Yearly Candle: Still a Small Red Body since last check but the tail wick is getting longer

Monthly Candle: Still a Long Legged Red Doji with Small Body but diminishing size

Weekly Candle: Previous close is a Green Shaven Bottom current is developing a Small Red Hammer

Daily Candle: Previous close is a Green Long Upper Shadow current is developing a Small Red Body

The DXY index has been rejected by the 104 resistance again. However, the 200-SMA is offering nearby support.

The yearly and monthly candles are showing signs of recover. On the daily, it seems the 8 consecutive green candles are through having a red one now.

On the 4H chart, AUDUSD is sandwiched between the 50-SMA below and the 200-SMA above. Continues to make a 4H golden crossing while the 4H FVG mentioned last time has continued to hold as well.

I admit that I fomoed last Friday entering shallow levels and the market stopped me out quickly but I still use the same play book.

Like all the other majors already making a push to the up side. Price already went higher unable to re-test 0.6380-0.420 buy zone.

I will wait for the market to give me a corrective structure, finishing it then focusing on buy setups for a move higher.

The intraday is already bearish and I will focus on buying the lower pullbacks. I will ignore selling at this point.

The CoCH area is still viable take profit target coinciding the 0.66 resistance.

AUDUSD Intraday Analysis and Trading Plan For February 26, 2024

Feb 26 2024

Stop Loss -0.46%

Holding time 12hr

0.65195

Entry price

0.64895

Stop loss price

1