Yuriy_Bishko

AUD/USD Trading Plan for next week

FX:AUDUSD   Australian Dollar / U.S. Dollar
Price is moving down in Downward channel . I think there are a big chance for next price decreasing to 0.6826

Reasons:
1. Long — term trend is still bearish . Most of the time the price continue trend move.

2. Major currencies (EUR, NZD, CHF, JPY) move down like Australian dollar .

3. Take look on weekly chart, the price closed under key levels 0.7145 and 0.7089
The main Law of technical analysis is: under key level open Short.



4. On the next week I will look for Short entry near key level 0.70884 with low risk.



Long I will open near 2 years low 0.6826, because under that level many traders hide their stop loses. On the market, if big players want to buy someone needs to sell it to them.



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2. Major currencies (EUR, NZD, CHF, JPY) move down like AUD/USD "This tells us that the recent move is U.S. dollar-related since the other major currencies are moving similarly in the same magnitude of AUD/USD. Ya, its a short for me too and I like your 1W and 4Hrs concepts and I agree with that too. It could be possible in the near future lets wait and watch what our market will bring for us.
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@jessi061, The mains thibg for me is low and predictable risk.

Where do you want to open Short or Long?
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jessi061 Yuriy_Bishko
@Yuriy_Bishko, ok bro I had been like 1 week short on AU last time and grabbed 150pip+ But later I felt not well about the price action of the pair which seems to act like it gonna create a range bound trade. I got out from the market cause of that reason but I guess I was little wrong and hope to enter in short again from 0.70884 or above it near the Fibonacci retracement level 78.60% or 0.71330

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