davidleekuanyong

AUDUSD to trend downwards?

Short
FX:AUDUSD   Australian Dollar / U.S. Dollar
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1
AUDUSD had some selling pressure on 0.74080- 0.74100. This also confluences with the 100% Fibo extension level.
Based on this information, I believe AUDUSD will continue trend downwards. I shorted at 0.74040. My stops at 0.74200. First downtrend target is 0.73640 while second target at 0.73170.

This is not a buy/sell call. Do confirm with your trading plan.
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Trade closed: stop reached: trade was closed on may 2 when it hit 0.74200
Trade closed: stop reached