Sforex
Short

Aussie: Watch key levels to go SHORT.

FX:AUDUSD   Australian Dollar/U.S. Dollar
185 2 3
After FED meeting with a rate hike decision the first time since 2006, I just that I still favor LONG Dollar.

This article I mainly talk about Technical Analysis .

Look at on the chart :

- Firstly, RSI Indicator: It is testing the key descending trend line now: If it breaks this trend line, the bearish trend is confirmative.

- Secondly, I see a clear Head and Shoulder pattern on the chart, and AUDUSD             now test the neckline of H&S pattern, if it breaks the neckline, downtrend is confirmative.

- Thirdly, Kumo cloud now is at 0.7150, and it is very thin. So A/U is very easy to break it. If A/U breaks Kumo cloud, one more downtrend signal.

I place a SELL Stop position at 0.71500, Stop loss at 0.7200, Take profit at 0.7040


Rebounds

ChatchaiVong
a year ago
thank so much
Reply
KEH
a year ago
Good analysis :)
Reply
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