alex.ofx
Short

AUDUSD SHORT IDEA FOR THE WEEK

FX:AUDUSD   Australian Dollar/U.S. Dollar
85 1 3
Hi traders,

Another potential trade for the commodity currency this week. Ive been following AUDUSD             for the past week and im suprised by the strenght of it. And i expect a really big drop from the highs. Lots of selling (and distribution stage) on the highs around 0.768-0.77.

This week i will look for the AUD against most of the majors. From the chart i expect it to break down from the accending trendline , retest the trendline and ultimately head back down to the lows and according to my analysis it looks like it will play out. Fundimentals are berish on the AUD, as monetary policy looks to remain the same.

This one may take awhile to play out but its a good one to be paitent for!

ENTRY: 0.7620
SL: 0.7670 (-50pp)
TP: 0.7460 (+160pp)

All the best and trade safe guys.
Please give this idea a like if you share the same view.
Follow me to show your support! I will genuinely appreciate it!
Trade closed: stop reached: SL, same as NZD. Due to better then expected news coming out from China.
thanks.
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