Dear traders,

Last time I wrote a trading analysis article it was on DAX.

There was a pin bar and price has since gone up about 200 points.

We are still experiencing the lower summer volatility and it seems like DAX is slowly crawling to the upside.

Are we going to experience a bullish breakout or not really depends on the future fundamentals and how the economy performs.

We are currently standing just below a strong resistance zone, so I will not be taking any long-term trades at this time.

AUDUSD Trading Analysis 08.08.2021

Last time I wrote about AUDUSD, there was a major support level and a pinbar on the weekly timeframe.

Price did not move much to the upside, but it has started to show some bearish signs.

There were not enough buyers to push the price higher and hence we saw an inverted pin bar, which boded well for the bears.

On Friday, there was a bearish engulfing candlestick pattern, which most likely will bring more sellers to the trading scene.

I am expecting to see a bearish confirmation pattern on the 4H timeframe.

If such occurs, I will be most likely looking to short this pair.

Happy Trading,
Colibri Trader