Last week we saw the AUDUSD make a push to the upside, this was following 10 year lows. This was due to large spectulators closing short positions on this pair. However, large speculators still hold large short positions and no new longs were added in the push to the downside, suggesting to us that we can be looking for a push down. We are hoping the pair will reject the 0.618 retracement and continue the move down.
I will be looking for a potential short on this pair once my rules are satisfied.
I will be looking for a potential short on this pair once my rules are satisfied.