albertos
Short

AUDUSD oversold the Australian dollar

FX:AUDUSD   Australian Dollar / U.S. Dollar
145 6 7
oversold the Australian dollar             , the sale starts at 0.75000 to continue the short channel up to 0.7000. favored short, starting in upward and then test area 0.74000 - 0.75000 max and then on to 0.7000.
Oversold conditions add to uncertainty as traders looks for bottoms , the overriding consideration is sentiment thats what drives markets and with all the negative news surrounding falling commodity prices dangerous to fish for bottoms, but admit done the same myself !!
+1 Reply
albertos MarkLangley
thanks Comment
+1 Reply
IvanLabrie MarkLangley
Indeed, market bottoms are rare, and take time to form. More often than not, trend continuation is in order.
+1 Reply
albertos IvanLabrie
Thanks Ivan
+1 Reply
won't go 0.7077 ?
Reply
very Oversold
+1 Reply
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