#AUDUSD: Bears Picking Up Steam, Downside Expected! #Forex
Traders,
Bearish engulfing signal at the top of the range at the resistance zone shows bears acknowledged this zone and bears have picked up steam. Pair is offering strong hidden Stochastic bearish divergence, showing underlying bearish demand. Price nearing minor sideways support, if price breaks this level this could be an bear impulse leg, which could see price go much lower. Good opportunity to short. I hope you have a tested trading strategy to trade this move when it starts.
Bearish engulfing signal at the top of the range at the resistance zone shows bears acknowledged this zone and bears have picked up steam. Pair is offering strong hidden Stochastic bearish divergence, showing underlying bearish demand. Price nearing minor sideways support, if price breaks this level this could be an bear impulse leg, which could see price go much lower. Good opportunity to short. I hope you have a tested trading strategy to trade this move when it starts.
