FX:AUDUSD   Australian Dollar / U.S. Dollar
211 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
It extended a bit further down, but it's correcting up as expected.
Looks like we won't see a bottom anytime soon.
I'll stay on the sidelines, watching.
And setup momentarily negated.
Waiting for the time being, already made some and got out safely.
Fix rate level reached, might be time to close long positions or trail stops.
IvanLabrie IvanLabrie
Sudden upwards action after bullish AUD news.
Any move above 0.82167 will give more strength to the bullish case.
Opened a long position at 0.78897, closed at 0.7917 for now.

Huge spread between audusd and xauusd...
+1 Reply
NickCoulby IvanLabrie
I see