AUDUSD is finally moving lower although there are no confirmations yet that the bearish trend on daily time frame is leading again.
I will be looking for this current consolidation to end for a possible sell trade. If we see a 5 wave pattern lower and a break of the lower structure line we need a continuation to confirm that the trend is bearish again.
Until that happens, 0.80 and maybe even higher is still on the table short term.
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I will be looking for this current consolidation to end for a possible sell trade. If we see a 5 wave pattern lower and a break of the lower structure line we need a continuation to confirm that the trend is bearish again.
Until that happens, 0.80 and maybe even higher is still on the table short term.
timstuyts.com
facebook.com/timstuyts
Note
AUDUSD played the range almost to the pip as shown by means of the arrows. However we didn't break lower yet. If it settles we can look for another short continuation.
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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.