SamKent
Short

AUD/USD Breakout and Pullback

FX:AUDUSD   Australian Dollar/U.S. Dollar
188 0 0
The AUD/USD             1H chart is showing a clear example of a breakout, followed by a corrective sequence back to the previous breakout level. In terms of shorter term momentum , the pair is looking very bearish indeed, as illustrated by the fact that the recent big selling candle was the equivalent move of what recently took 6 selling candles to achieve. Therefore, a break of the ascending line will trigger a momentum based short for us.
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