AUDUSD SELL LONDON OPEN
📉 AUDUSD SELL 📉
💰Take Profit 1 - 0.6778
💰Take Profit 2 - 0.6728
💰Take Profit 3 - 0.6678
❌ Stop loss - 0.6958
here is my analysis of AUDUSD:
The AUDUSD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 0.6858, and a sell entry point of 0.6858 is just above the recent low of 0.6840.
There are a few reasons why AUDUSD could continue to fall in the near term. First, the AUD is generally seen as a commodity currency, and it has been weakening against the USD in recent weeks as commodity prices have fallen. Second, the Reserve Bank of Australia is expected to raise interest rates more slowly than the US Federal Reserve, which could weaken the AUD against the USD. Finally, the USD has been supported by the recent decline in risk appetite.
However, there are also some risks to consider before entering a trade on AUDUSD. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for Australia and the US is uncertain, which could impact the price of AUDUSD.
Overall, I think AUDUSD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on AUDUSD:
The economic outlook for Australia and the US.
The level of volatility in the forex market.
The price of commodities, such as oil and gold.
💰Take Profit 1 - 0.6778
💰Take Profit 2 - 0.6728
💰Take Profit 3 - 0.6678
❌ Stop loss - 0.6958
here is my analysis of AUDUSD:
The AUDUSD pair has been in a bearish trend for the past few weeks, and it is currently trading near the bottom of its range. The current spot rate is 0.6858, and a sell entry point of 0.6858 is just above the recent low of 0.6840.
There are a few reasons why AUDUSD could continue to fall in the near term. First, the AUD is generally seen as a commodity currency, and it has been weakening against the USD in recent weeks as commodity prices have fallen. Second, the Reserve Bank of Australia is expected to raise interest rates more slowly than the US Federal Reserve, which could weaken the AUD against the USD. Finally, the USD has been supported by the recent decline in risk appetite.
However, there are also some risks to consider before entering a trade on AUDUSD. The forex market is volatile, and there is always the risk of a reversal. Additionally, the economic outlook for Australia and the US is uncertain, which could impact the price of AUDUSD.
Overall, I think AUDUSD is a good pair to trade for those who are looking for a short-term bearish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal.
Here are some additional factors that you may want to consider before entering a trade on AUDUSD:
The economic outlook for Australia and the US.
The level of volatility in the forex market.
The price of commodities, such as oil and gold.
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