AUDUSD Short position potentially happening here, AUDUSD was on a strong upward trend, we have now hit a strong resistance area on the daily, using a fib retracement we may seel AUDUSD start to sell off before continuing the general trend, also we are likely to see a 'right shoulder' forming if this retracement happens. combining this with other research such as RSI and MACD beig at high levels signalling currency being overbought, we are likely to see this pair begin to sell off.
Anyone agree??
Anyone agree??