IAGMarkets
Long

IT'S TIME TO LONG AUSSIE... TEMPORARILY.

FX:AUDUSD   Australian Dollar / U.S. Dollar
49 0 1
Counter-trend trade setup

As the chart displays, Aussie has successfully managed to break out the downside TL ( Trendline ).

We are buyers now. We anticipate this pair to retest & bounce off the uptrend trendline around - 0.76000, which is also the 61.8% FIB.

A reasonable target to take profit @ 0.76000

*NOTE* PLEASE REMEMBER: This is a counter-trend trade and although we believe this idea is liekly to complete, the market can and may return to the downside prior to achieving the 0.76000 target.
Please use conservative risk and stops.

Have a great trading week.

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