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NDOBObanks

AUDUSD: Bearish Flag Breakout

Short
Australian Dollar / U.S. Dollar (PEPPERSTONE:AUDUSD)  
NDOBObanks Updated   
PEPPERSTONE:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis audusdshort audusdforecast audusdsell audusddaily audusdsetup
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trendanalysis chartpattern beyondta audusdshort audusdforecast audusdsell audusddaily audusdsetup
AUDUSD is in a strong bearish trend. After looking at the weekly and monthly charts we are only looking at selling
opportunities.

We have seen the following reasons for looking to sell:

1: Bearish flag breakout.
2: Trendline breakout.

We are looking to take an entry at the retest of the trendline.



Trade active
Comment:
A lot of consolidation. We might end up close this trade as it seems both currencies are of similar strength at the moment which is causing this range.
Trade closed: target reached:
Price shot down several weeks later.
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