Turning my focus to AUDUSD, I’ve identified a compelling SHORT opportunity. The pair is exhibiting clear signs of a bearish turn, with price action encountering resistance at a crucial level and beginning to show a reversal pattern. Technical indicators such as a bearish crossover in the MACD and an RSI trending downwards from overbought territory further signal a potential decline.
The economic outlook adds to the bearish case. With the US Dollar gaining strength on the back of positive economic data and rising interest rate expectations, contrasted with the Australian Dollar facing headwinds from fluctuating commodity prices and trade tensions, the stage is set for AUDUSD's downward movement.
Entering this SHORT position, I’m targeting strategic entry points, with well-defined targets and stop-losses to optimize risk management. This strategy aims to capitalize on the anticipated depreciation of the AUD against the USD, leveraging both technical setup and economic disparity for a calculated trade execution
The economic outlook adds to the bearish case. With the US Dollar gaining strength on the back of positive economic data and rising interest rate expectations, contrasted with the Australian Dollar facing headwinds from fluctuating commodity prices and trade tensions, the stage is set for AUDUSD's downward movement.
Entering this SHORT position, I’m targeting strategic entry points, with well-defined targets and stop-losses to optimize risk management. This strategy aims to capitalize on the anticipated depreciation of the AUD against the USD, leveraging both technical setup and economic disparity for a calculated trade execution
Trade closed manually
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