AUSSIE Likely To Slump Towards 0.6700 Level. A SHORT SWING TRADE
Now that The RBA has cut its interest and the economy not doing so well we could see this pair slump to 67 cents!
Bare in mind that the 0.7000 level is a very crucial resistance at the moment and any upward momentum is unlikely to happen as the trade war persists putting pressure on the AUD.
0.67000 level is another crucial support that has been drawn from the monthly charts and in my view this where the price is headed next. so below are the trade details. shall there be any updates i will update them below
TRADE ENTRY LEVEL: 0.69100
STOP LOSS: 0.71100
TAKE PROFIT: 0.67000
RR: 1:1
TRADE TYPE: SHORT
CHEERS
Bare in mind that the 0.7000 level is a very crucial resistance at the moment and any upward momentum is unlikely to happen as the trade war persists putting pressure on the AUD.
0.67000 level is another crucial support that has been drawn from the monthly charts and in my view this where the price is headed next. so below are the trade details. shall there be any updates i will update them below
TRADE ENTRY LEVEL: 0.69100
STOP LOSS: 0.71100
TAKE PROFIT: 0.67000
RR: 1:1
TRADE TYPE: SHORT
CHEERS
Comment:
PLEASE ADJUST SL TO 0.73000. I CAN SEE THIS PAIR CLIMBING HIGHER AND OUR INITIAL 0.71000 SL WONT HOLD. JUST BELOW 0.73000 THERE IS A CONCRETE LONG TERM DESCENDING TRENDLINE. SHALL THIS BREAK, THEN AUDUSD WOULD OFFICIALLY TURN BULLISH
Trade closed: target reached
