AUDUSD (3/22/15) Daily outlook
Things to note on AUDUSD:
1. Critical 61.8% retracement level has been broken. Indicating sellers are in control.
2.The best entry short would to wait for a monthly halfway back, entering at a level around .85347
3. Intraday trading we are only taking shorts until daily fib swings show bulls are in control.
Target #1 short is .71167.
Daily Stochastic: Overbought
Monthly Stochastic: Over Sold
This pair is a little unbalanced currently, but many opportunities to make smaller time frame trades.
1. Critical 61.8% retracement level has been broken. Indicating sellers are in control.
2.The best entry short would to wait for a monthly halfway back, entering at a level around .85347
3. Intraday trading we are only taking shorts until daily fib swings show bulls are in control.
Target #1 short is .71167.
Daily Stochastic: Overbought
Monthly Stochastic: Over Sold
This pair is a little unbalanced currently, but many opportunities to make smaller time frame trades.
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.