AUD USD - short trade still in play. Same description as previous - as it still stands.
We have our sells activated - the reason behind this is looking on the weekly timeframe - the wicks have been removed by the recent candle closes on the daily.
Trade 1 has been taken,
Trade 2 - un-activated - as price may attempt to settle around 72. XX
Upcoming
We will share our new analysis for DAX30 soon.
We cannot see a specific level holding for the future.
Why are we selling?
Aussie budget looked to really help alot of average Australians, but failing for Queensland to open to NSW and Tassie, WA for freedom of complete movement will be damaging as Summer season comes.
Stimulus is provided but Scomo's government is worried about the deficit.
USD side:
Price is volatile - during the election process in the US, the worlds relationships are affected
The election is coming closer <30 days.
The S&P500 and NAS100 are not shown here but use reference for our previous ideas to show where price has reached our over exposed markers.
The stocks have recovered well from a V - shaped recovery, too fast with big price action gaps.
Dollar is strengthening.
Shift in presidential change of power?
Covid 19 - second wave has concerned EU governments - with further pumping of money to "control" the costs of job losses and curb closures.
We have established a great supply or essentially a strongly overvalued market again in quick succession, however price will be giving some good areas to sell this aligns with Commodity currencies like the Aussie.
This is a long term sell. price can and will invalidate.
Why follow us?
Updates on our pairs as and when we can.
Swing trade out looks
10 years combined experience in capital markets
simple breakdowns for beginners to advanced .
KISS - keep it simple stupid.
we trade purely from naked charts, less indicators - remove the noise.
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Thanks,
Team Lupa
