AUDUSD Forecast - Start of risk off pull back?
Updated
Risk currencies have been holding bullish sentiment for a very long period now, everything must come to a pause or stop eventually and this may be just that. Due to how long the bullish momentum has gone there's enough room to follow price back down, how far down? Well we do not know but there are some personal mark ups I have left on the chart. This has a lot of dependence on the western world vaccinations and how fast these will get done which is something to keep note of. Last week we had already seen de-risking with strong USD gains and although this week started strong across risk currencies, all have shown de-risking going into the weekend.
There can be numerous entries for the forecasted trade.
There can be numerous entries for the forecasted trade.
Note
Target 2 reached with ease. No change in sentiment... yet.Note
Stop loss set to 0.77200 need to see reversal candles at 77.070 preferably on 5 / 15minute TFTrade closed: stop reached
Stopped in profit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.