Get started
formosanbear

AUDUSD Retraced and It's going Back Down Under

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
formosanbear  
FX:AUDUSD   Australian Dollar / U.S. Dollar
6
3
The US Dollar has been showing potential bullish signals, which led to the entry signal here in the AUDUSD. On the daily chart, the AUDUSD has retraced back up to the .382 Fibonacci retracement level, while forming a clear doji. At this level, the doji not only tests the .382 FIbonacci retracement level, but also the 50EMA and the strong support/resistance level of .7800. I am expecting bearish movement on the currency pair.
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.