Forecast for AUDUSD this week: limited move up (0.7565 - 0.7580), then drop to 0.7500 (1st target), then further decline (to 0.7400 - 0.7375)
Trade active:
limited move up is done, expect some more distribution at the top before the leg down (later this week).
Comment:
Tuesday: distributing longs, waiting for shortselling as signal for expected move down.
Trade active:
Update: FIrst target almost hit. Expect a bounce up before a second leg down.
Trade active:
Looks like limited bounce up as predicted in previous update is done. Looking for another leg down, contrary to the move up in the dollar.
Sultan of Swing