AUDUSD Face Strong Rejection at 0.7590

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD             Face Strong Rejection at 0.7590

The recent rally gives a good place to short AUDUSD            

Price action shows bearish

hence we can short AUDUSD             as long as it doesnt'
break through 0.7600

Correction Move Finish, Major Trend Continue.
Trade closed manually: Fall to 0.7540 earned 50 pips, then hit SL @ break even
To lean Jack's Full Trading System:
Weechat ID: 32114564
So your trade goes your opposite?
Surprisingly, rate hike makes USD weaker against other currencies and gold. This must be temporary only, let me know if you agree.
@lio, well in general you are right. But the recent selloff of the dollar in almost all pairs expect GBP was due to disappointment of the FED future economic prognoses. It was conservatively dovish, conversely the market expected the opposite. Fundamentally I believe that AUD/USD pair is still heading down, towards 0.74 region or even lower though I do not exclude some more volatility to the upside. Medium to long run I am the bear. Best
lio nightfoxFX
@nightfoxFX, thank you for your response. In 2015 and 2016, only 1 rate hike while 3 were expected. However, USD still went up significantly. The current selloff doesn't sound very logical indeed.
+1 Reply
When is the time you think is good to move to breakeven point?
Can update here when your SL move to breakeven point?
@YongLiang, when you think you have it enough, enough from long suffering and craziest dumbest dream that human ever imagine
i am impressed. that strong restistance was brutally strong...
mehdisdt ernstschwarz
i learned something interesting about waves
they never give a damn care about support or resistance . they crush it so easily .
that is why i dont use levels in my trades
@mehdisdt, you are very right i think. well, there is something about support and resistance, but you need to have the bigger picture. s/r is good for finding better/riskier entrys and too for take profit levels while you are trading the waves...
mehdisdt ernstschwarz
@ernstschwarz, yep this can make sense
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