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trustbrokergroup
Oct 10, 2017 6:39 PM

AUD/USD SELL STOP - 10/10/2017 Short

Australian Dollar/U.S. DollarFXCM

Description


AUD/USD is trading a little bit above the level of support 0.7744 at the moment. The price showed a little growth, but it was on small volume + given the presence of the local downtrend, we should consider short positions for this currency pair. We can enter the market after a breakdown of the support on large volume, so it will be a more accurate signal. A stop loss should be placed above the breakdown volume bar. A potential of the deal is 70 pips. As for long positions, we can consider them only after a breakout of the resistance 0.7868.

The bottom line: short positions after a sharp breakdown of the support.
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