AUDUSD Short Idea
Overall price action on higher time-frames has been bearish and we are looking to short upon proper confirmation at the current level
Current price action is at the daily 50% fib level as well as a major daily resistance around 0.688
Ideally rejection from this level in the form of strong bearish signals would be enough confirmation to short
Also this looks to be forming a daily double top pattern which would suggest the bears are still in control
We will look to target toward the -27.2% daily fib around 0.656 followed by a second target near our weekly support and -61.8% fib around 0.64250
Overall price action on higher time-frames has been bearish and we are looking to short upon proper confirmation at the current level
Current price action is at the daily 50% fib level as well as a major daily resistance around 0.688
Ideally rejection from this level in the form of strong bearish signals would be enough confirmation to short
Also this looks to be forming a daily double top pattern which would suggest the bears are still in control
We will look to target toward the -27.2% daily fib around 0.656 followed by a second target near our weekly support and -61.8% fib around 0.64250
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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.