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MEX_Exchange

AUDUSD broken major support, time to start selling

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
MEX_Exchange  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdshort audusdlong audusdforecast audusdsignal Forex forextrading
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trendanalysis harmonicpatterns chartpattern audusd aud usd audusdshort audusdlong audusdforecast audusdsignal forex forextrading
Sell below 0.7868. Stop loss at 0.7913. Take profit at 0.7791.
Reason for the trading strategy (technically):
Price has broken a major support level and we look to sell on the pullback to this resistance area of 0.7868 (Fibonacci retracement, overlap resistance, bearish price action, descending resistance) for a push down to at least 0.7791 support (Fibonacci extension, Elliott wave theory).
RSI (55) sees a descending resistance line keep us in our bearish bias.
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