AUDUSD SHORT. (Trend: Descending (W), Monthly Res, EMA+SMA)
Reasoning
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Weekly descending trend-line and minor decending channel
broken to the downside.
Monthly resistance key level 0.76500 tested and held.
A-B-C Fibonacci re-tracement 50%
SMA and EMA cross over on daily+hour 4.
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Target 1 at -27% extension from lower high (A)
Target 2 at -61.8% extension from lower high (A)
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Weekly descending trend-line and minor decending channel
broken to the downside.
Monthly resistance key level 0.76500 tested and held.
A-B-C Fibonacci re-tracement 50%
SMA and EMA cross over on daily+hour 4.
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Target 1 at -27% extension from lower high (A)
Target 2 at -61.8% extension from lower high (A)
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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.