KaKeungChoi

AUDUSD - Sell the breakout of support zone

Short
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
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3
AUDUSD - Sell the breakout of support zone

The pair has broken the up trend structure, dropped again on the 29th and rebound back up on the 30th but close lower again.

If price could not manage to break the two resist zone above in the coming week, then a larger correction towards the support zones is expected.

Watch out for the break out of the yellow dash line, it could be a sign of a sharper fall towards the support zones.

For those interested in my S/R zones trading technique, you can click into the red button on the bottom left of the chart and read the instructions.

Comments

Retreating nicely, but stop by the support zone. wait for price to weaken the support zone and then expect price to go further low.
Reply
Price drop through the first support zone.
Reply
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