Hello traders! I hope we are all having a great week
Allow me to share with you my (updated) outlook on the above pair.
We are in an overall downtrend on the AUD/USD. Price has had a false breakout and retest of a major level of resistance on the higher timeframe, creating a series of equal highs. As we continue to see a rise in interests rates and the strengthening of the USD, I am anticipating that this market will continue with its dominant trend should we continue to see momentum towards the downside. I will be considering short positions following further confirmation if price breaks and closes below the neckline.
Thoughts and feeback are welcome!
DISCLAIMER: I am not a signals provider. Just a guy with a dollar and a laptop (:
Allow me to share with you my (updated) outlook on the above pair.
We are in an overall downtrend on the AUD/USD. Price has had a false breakout and retest of a major level of resistance on the higher timeframe, creating a series of equal highs. As we continue to see a rise in interests rates and the strengthening of the USD, I am anticipating that this market will continue with its dominant trend should we continue to see momentum towards the downside. I will be considering short positions following further confirmation if price breaks and closes below the neckline.
Thoughts and feeback are welcome!
DISCLAIMER: I am not a signals provider. Just a guy with a dollar and a laptop (: