The AUDUSD has been trading in a down trend at least since the 2013. In February of 2016, this pairs has broken the down trend line in place since September 2014. The Weekly short term GMMA (blue) compressed and turned up. The weekly long term GMMA (orange) started slowly to compress. On the other hand price started to move higher, making ever higher lows, giving rise to a short term rally to around 0.7835. With recent rate cut from the BoA, price broke the rising short term trend line. The weekly long term GMMA started to expand again after a weak compression.
This analysis suggests a high probability of more downside moves for this pair, providing a short opportunity.
Order 1:
SL @ 0.7720 area (close above this price)
TG @ 0.702-0.7000 for a 1:2 risk to reward ration
Trade management: risk to reward boxes
Order 2:
SL @ 0.7720 area (close above this price)
TG @ no target
Trade management: risk to reward boxes. Move SL to break even as soon as Order 1 hits the target level.
Lets see what happens!
Cheers and happy trading!
This analysis suggests a high probability of more downside moves for this pair, providing a short opportunity.
Order 1:
SL @ 0.7720 area (close above this price)
TG @ 0.702-0.7000 for a 1:2 risk to reward ration
Trade management: risk to reward boxes
Order 2:
SL @ 0.7720 area (close above this price)
TG @ no target
Trade management: risk to reward boxes. Move SL to break even as soon as Order 1 hits the target level.
Lets see what happens!
Cheers and happy trading!