After reaching the year high around 0.74000 from yearly low around 0.56000 which is a 1800 pips rally. At 0.74000 it got some rejection and felled towards 0.70000 level which is a .786 Fibonacci retracement level and September 2020 low.
From this point AUDUSD bounced back towards 0.72000 as a short term bullish correction. Currently the AUDUSD was driven...
AUDUSD has been trading around a key level of support and resistance. I see a possible slight head and shoulder formation forming a triple top. Will be seeing how this pair reacts this week if it gets to that ray line correctively, ill be taking a short. If it impulses down creating a bear flag formation will be taking a short position. These are the two moves ill...
AUD/USD was ranging all week and my short orders were stuck in the range, but on Friday evening, we were finally trying to break the support area. If the price broke this, we would see more bearish price action.
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AUDUSD: SHORT TRADE SETUP.
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Looking at AUDUSD short breakout, i believe the pair has one more push to the downside before we see any possible buys taking place. Looking to short the pair short term to the channel below and a possible push further before the buyers start gaining momentum. This is a short term trade and i will be watching again this pair closely as it is close to my channel...
As you can see in the graph above, once again the AUD USD is approaching the 200 moving average line which is used as serious resistance, only this time compared to the previous times we have the beginning of a rising trend.
The Stochastic is already in the area that points to Overbought.
Our recommendation is to let AUDUSD touch the line (15/20 pips) and then...
If you look at the M charts you see this minor zone was already broken several days ago and I see this as a retest.
Will it bounce off 50 or 61 lvl of fibo and rally to major monthly resistance ? or could this be a trend reverse ?
Also RSI indicating a drop.
Would like to see what you think of this so feel free to leave a comment.