My final Finlogix analysis for the day goes to AUDUSD.

I’ve finally ended my 3 straight losses after last Monday’s win:

https://www.finlogix.com/analysis/20240311/audusd-intraday-analysis-and-trading-plan-for-march-11-2024

Current standing is now 2 wins and 4 losses. More work to be done.

There is no major Australian economic report this Friday.

Re-assessing AUDUSD’s high timeframe candles:

Yearly Candle: Last check is a Red Hammer now a Red Body with a Longer Tail Wick

Monthly Candle: Last check is a Green Body with a Longer Head Wick now a Green Long Upper Shadow

Weekly Candle: Last check is a Small Red Hammer now a Red Body With a Longer Head Wick

Daily Candle: Yesterday’s close is a Red Body current is developing a Small Red Body

AUDUSD has lost its monthly gains after a bearish week.

The buy side liquidity above the support and resistance trendline was efficient enough resulting a strong moving down on the 4H candle structure after losing the mild 0.6570-0.6580 support.

The previous daily FVG mentioned in my last analysis got fully retraced.

Even though bearish at the moment, there is another daily FVG drawn in the daily chart above offering support.

Within this FVG lies the 200-day SMA giving more support confluence.

We can expect selling pressures from the bounces on these levels.

Given the current conditions I am not going to buy in.

Instead, I wait for a strong sweeping off lows from liquidity under these lows.

If AUDUSD sellers overtake targeting a break down on the 200-day SMA, I will short it with a complete retracement on the lower daily FVG as a take profit target.

In case I am wrong, the stop loss is placed on the intraday’s swing high possibility.

These are the updated short entries to observe:

See you next week and have an amazing weekend.

AUDUSD Intraday Analysis and Trading Plan For March 15, 2024

Mar 15 2024

Take Profit +0.64%

Holding time 3d22hr

0.65570

Entry price

0.65150

Take profit price

1