Hi traders,
The AUDUSD asset was mainly controlled by dollar flows and tensions between US-China last week with further clarification on the deal.
This week I am using the Tom Demark's pivot indicator to determine a trend. It is showing we are bearish on the break of S1. And the stochastic seems like it is in a continuation to the downside.
The 68500 level is where we need to be looking at in the long term. If we can get a move below then we will confirm the head and shoulders. Trade shorts with caution because we have been quite choppy this past few weeks.
all the best,
Aardall
The AUDUSD asset was mainly controlled by dollar flows and tensions between US-China last week with further clarification on the deal.
This week I am using the Tom Demark's pivot indicator to determine a trend. It is showing we are bearish on the break of S1. And the stochastic seems like it is in a continuation to the downside.
The 68500 level is where we need to be looking at in the long term. If we can get a move below then we will confirm the head and shoulders. Trade shorts with caution because we have been quite choppy this past few weeks.
all the best,
Aardall