AUDUSD Short
AUDUSDLooks overbought and can make quick 20-25 pips profit.
- Technical outlook indicates that the movement overstretched in intraday charts, as indicators are in extreme overbought territory,
- However above 0.7524, December high and presents an immediate resistance
- In the 4 hours chart, the price is far above a bullish 20 SMA, the RSI heading north at 77, although the Momentum also slightly presents a strong upward slope in multi-month highs, supporting the bullish breakout, it indicates oversold.
- Having said this, the Fed Chair Yellen's Speech shortly could trigger unknown further up/down movement
As usual I'm in for 20-25 pip profit. Ride with me!
Trade closed: target reached
Target reached and closed.Hope you guys made some good pips on this trade
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Related publications
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.