RE: FX Trading AUDUSD

You are viewing a single comment's thread from:

FX Trading AUDUSD

in fx •  5 years ago  (edited)

Here's how my trade looks at close on Friday. Currently showing an unrealised profit of $451.50, but seems to be settling into a sideways pattern. Stochastic suggests an upside price breakout early next week, but we are still below the original breakout level (lower trendline). Note also the extended divergence between price action (angled upper trendline) and Stochastic, which favours continued downside continuation. The Reserve Bank of Australia (RBA) left interest rates unchanged at its last meeting, against some expectations of a rate decrease. When this failed to materialise prices bounced higher initially, before settling into the current sideways pattern. But the RBA can't delay the inevitable forever, and my expectation is the Aussie Dollar will continue downward for a little while yet. Look at the AUDUSD 1-hour chart and the 4-hour charts! The Aussie's going down!

audusd-h4-international-capital-markets.png

audusd-h1-international-capital-markets-2.png

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!