The AUDUSD showed an accumulation pattern for the past week. The moves higher into the supply zones did not lead to any major bullishness and now we renewed commodity pressure, the AUDUSD continues its selloff.
It is currently trading at a demand zone at 0.70 but a break of that level should give us 0.695 as the next downside target. We are keeping a close eye on crude for this trade as a turn in oil - which is not the most likely scenario - would cancel this trade idea.
It is currently trading at a demand zone at 0.70 but a break of that level should give us 0.695 as the next downside target. We are keeping a close eye on crude for this trade as a turn in oil - which is not the most likely scenario - would cancel this trade idea.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
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> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
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.