UncleBullFX
Short

AUDUSD | Preparing to melt?

OANDA:AUDUSD   Australian Dollar / U.S. Dollar
This pair has formed a double top and started to drop aggressively with big bearish candles. It has also broken a ascending trendline and currently doing a retest.

Additionally, it did also break a Support level and currently is retesting it as a Resistance level . If AUDUSD fails to break back above, then we can expect further downside movement.

Watch the pair closely and only sell when you see a clear bearish candle close below the current resistance level .

Fundamentals to look out for during the week.
1) USD CPI m/m (Tue)
2) USD Core CPI m/m (Tue)
3) AUD Employment Change (Thu)
4) AUD Unemployment Rate (Thu)
5) USD Core Retail Sales m/m ( Fri )
6) USD Retail Sales m/m ( Fri )

Risk ONLY: 2-3%

Good Luck
Trade active: Entering here manually
Trade closed: stop reached

Comments

its interesting I agree, here is my view
+1 Reply
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