Sell AUDUSD Channel Breakout
Updated
The AUD/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours.
Key Points:
Bearish Channel Breakout: The price has been trading within a descending channel defined by two converging lines: a falling resistance line and a falling support line. This pattern indicates ongoing downtrend and potential for continued selling pressure.
Sell Entry: Consider entering a short position around the current price of 0.6514, which sits close to the broken channel resistance. This could offer an entry point near a potential reversal zone.
Target Levels: Initial bearish targets lie at the support levels of 0.6485 and 0.6468, marking previous support zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order above the broken channel resistance line at 0.6540. This helps limit potential losses if the trend unexpectedly reverses.
Thank you
Key Points:
Bearish Channel Breakout: The price has been trading within a descending channel defined by two converging lines: a falling resistance line and a falling support line. This pattern indicates ongoing downtrend and potential for continued selling pressure.
Sell Entry: Consider entering a short position around the current price of 0.6514, which sits close to the broken channel resistance. This could offer an entry point near a potential reversal zone.
Target Levels: Initial bearish targets lie at the support levels of 0.6485 and 0.6468, marking previous support zones within the channel.
Stop-Loss: To manage risk, place a stop-loss order above the broken channel resistance line at 0.6540. This helps limit potential losses if the trend unexpectedly reverses.
Thank you
Trade active
Stronger US Dollar: The US Dollar has strengthened slightly recently, supported by hawkish signals from the Federal Reserve and safe-haven flows amid risk aversion. This could put downward pressure on AUD/USD.Note
Trade closed: target reached
with Good profitNote
The higher-than-expected CPI figure surprised markets and led to a selloff in stocks and Treasuries. This is because it suggests that inflation may be more persistent than previously thought, which could prompt the Federal Reserve to raise interest rates more aggressively.
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