FX:AUDUSD   Australian Dollar/U.S. Dollar
208 9 11
I'm looking at a potential long position in this pair, based on the presence of strong support around the current price levels.
A drop below 0.77 would make me doubt this forecast, but for now I think there is a strong possibility of mimmicking a previous reaction off support, after a climactic decline like the one we have recently witnessed.
Short term bias is bearish , but the bullish case is a compelling one in my view.
Trade closed: stop reached
snapshot


Huge spread between audusd and xauusd...
+1 Reply
NickCoulby PRO IvanLabrie
I see
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Opened a long position at 0.78897, closed at 0.7917 for now.
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Fix rate level reached, might be time to close long positions or trail stops.
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IvanLabrie PRO IvanLabrie
Sudden upwards action after bullish AUD news.
Any move above 0.82167 will give more strength to the bullish case.
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And setup momentarily negated.
Waiting for the time being, already made some and got out safely.
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Looks like we won't see a bottom anytime soon.
I'll stay on the sidelines, watching.
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It extended a bit further down, but it's correcting up as expected.
snapshot
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