Sell below 0.7777. Stop loss at 0.7813. Take profit at 0.7725.
Reason for the trading strategy (technically):
AUDUSD is approaching its resistance at 0.7777 (61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support) where we expect to see a reversal, pushing price down to its support at 0.7725 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where we expect to see a corresponding reaction.
Reason for the trading strategy (technically):
AUDUSD is approaching its resistance at 0.7777 (61.8% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support) where we expect to see a reversal, pushing price down to its support at 0.7725 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is approaching its resistance at 96% where we expect to see a corresponding reaction.
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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.
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.