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Theforexportal

BEAR pressure building on AUDUSDAUDUSD - Last week I recommended BUYING this market at open (.7572) and we are now at .7725. Price has now pushed well into a solid resistance zone and although further gains cannot be ruled out and the RSI suggests we have scope to go higher, the market may be ready to stall out. The last H4 candle was a shooting star/hammer bearish reversal and we could be seeing a reversal start. Trade idea. No LONG trades from these levels Under .77 is probably a SHORT trade.
by theforexportal
USDJPY heading southThe lower time frames suggest USDJPY is headed higher initially but this should only serve to present a better selling opportunity. As can be seen on the DTF, price has sunk under the 100 sma and is headed for the 200 at 108. I expect this pair to open higher but to lose momentum in the 113 area. Trade idea. Wait for a move higher to 113 and look to SELL. A move above 113.50 turns the structure more bullish but LONGS look risky according to the technicals.
Short
by theforexportal