As speculated in my previous analysis, the AUDUSD finished March in green after a strong monthly pullback.

My March 25’s trade plan has triggered its take profit level:

https://www.finlogix.com/analysis/20240325/audusd-intraday-analysis-and-trading-plan-for-march-25-2024

My overall standing is now 4 wins and 5 losses.

There have been no Australian high impact economic reports since last week.

Even after a weaker CPI year-over-year figure two weeks ago, the Battler has moved in an upward trajectory against the US Dollar.

Re-assessing AUDUSD’s high timeframe candles:

Yearly Candle: Still a Red Body with a Longer Tail Wick since last check

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

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

Daily Candle: Friday close is a Red Body with a Longer Head Wick current is developing a Green Body

I want to highlight AUDUSD’s March monthly candle still able to close in green after a strong pullback.

This move has helped the HL trendline alive and resulted in an April upward retracement targeting the flipped S/R.

Currently, price is near this area but a converging LH trendline has halted a continued move towards it.

Assuming intraday closes in red tomorrow, therefore the AUDUSD has made another efficient buy side liquidity grabbing.

With the Greenback losing its recent bullish momentum, I’m still buying Aussie but I want confirmation through a breakout that’s when I would like to enter.

If this happens, the problematic flipped S/R will be broken for good through a strong upside move!

In case the opposite happens, I’m willing to risk a stop loss below the lows last week.

AUDUSD Intraday Analysis and Trading Plan For April 9, 2024

Apr 09 2024

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