MORE AUSSIE DOWNSIDE MOVEMENT? for FX:AUDUSD by m.k237

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MORE AUSSIE DOWNSIDE MOVEMENT?

Comment: A lot of people are shorting this Aussie at the moment and currently you can see price rising above the descending trend line, this is mainly to take out stops and we could see price rally up to 0.7400 before the bearish run continues.

Trade safe.

Comments

Makes total sense, thanks for sharing.. Are you suggesting it will pass that triple bottom and hit the -27% level? Thanks again

serdaryavuz

@serdaryavuz, hi, yes expecting more downside but will be watching DXY tomorrow as a break of this trend line and more upside could be a possibility if the dollar weakens.

m.k237

@m.k237, I see, ok thanks