Possible Setup for the AUDUSD
Updated
Tomorrow the RBA will release it's latest cash rate:
The pair
AUDUSD looks quite dovish to me. We can see that there are indications of prices going up near the support level. We may see a long setup, but looking at what seems to be happening is that the RBA wants to increase the AUD in the long run! For the last 2 years the Aussie has weakened more than 18%, the RBA has had enough.
In case if it breaks below then short setup will be validated and we may look again for further trades. But for now, we will go for a long trade.
Trade according to your own risk!
The pair
AUDUSD looks quite dovish to me. We can see that there are indications of prices going up near the support level. We may see a long setup, but looking at what seems to be happening is that the RBA wants to increase the AUD in the long run! For the last 2 years the Aussie has weakened more than 18%, the RBA has had enough.In case if it breaks below then short setup will be validated and we may look again for further trades. But for now, we will go for a long trade.
Trade according to your own risk!
Order cancelled
Trade active
Trade closed: stop reached
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