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MEX_Exchange

AUDUSD right on major resistance, time to start selling

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
MEX_Exchange  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdshort audusdlong audusdforecast audusdsignal Forex forextrading
5
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trendanalysis harmonicpatterns chartpattern audusd aud usd audusdshort audusdlong audusdforecast audusdsignal forex forextrading
Sell below 0.7868. Stop loss at 0.7910. Take profit at 0.7794.
Reason for the trading strategy (technically):
Price is testing major resistance at 0.7868 (Fibonacci retracement, horizontal overlap resistance) and we expect to see a strong reaction from this level to push price down to at least 0.7794 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 98% and we expect to see a strong reaction off this level too.
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