Investors in the financial markets are observing the US30 and NAS100 indices, awaiting a potential breakout in the near future. Additionally, many traders are monitoring the AUDUSD currency pair, looking for a shift in its underlying structure. 

These developments could have significant implications for market trends and investment strategies. Therefore, traders are taking careful steps to prepare for any potential shifts in market conditions.

The AUDUSD Performance 

A change of structure on AUDUSD.

AUDUSD created a double bottom and rejected the support zone around 0.65840 which led to a break and close above the channel. This price action will cause sellers to start taking profits as the market is starting to create higher highs and higher lows and providing signs of a possible bullish momentum. 

Therefore traders anticipate AUDUSD to push back to the previous high around 0.67588, especially since the market bounced from the 61.8 fib level. Furthermore, a correction on the lower timeframe will further confirm a continuation of the upside.

The NAS100 Performance

Traders anticipating a breakout on NAS100.

NAS100 is currently trading within an ascending channel. Previously the market rejected the resistance zone around 12898.00 and caused the price to drop back to the bottom of the channel as well as the support zone. 

Since the market is still maintaining an upward structure, traders are bullish and anticipate a continuation to the upside however, a break and close above the resistance zone will confirm this. As such, traders will monitor prices in anticipation of this.

Read more: What Are CFDs In Forex?

The US30 Performance 

US30 breakout ready.

The recent price action on US30 suggests that buyers are slowly taking control.

The market failed to break below the support zone around 31750.00 as seen by multiple spikes to the downside. This price action caused the market to create an upward structure within the channel. As such, a break and close above the channel will further confirm a change in structure to the upside.

Final Thoughts on today’s Forex Trading Analysis

The anticipation surrounding a breakout on the US30 and NAS100 indices is indicative of the dynamic nature of the markets. This is also evident in the change of structure on the AUDUSD currency pair,

Traders will be poised to react to any significant shifts in market conditions and adjust their investment strategies accordingly. The ability to analyze to these changes are key to success in the world of financial trading.