SOFRONOFX

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About me Chart technician
Joined London
Markets Allocation
100 % forex
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AUDUSD 100% | 2
SOFRONOFX SOFRONOFX AUDUSD, 240, Short ,
81 0 2
AUDUSD, 240 Short
AUD/USD Down trend continuation

The Dollar has appreciated as the FED have announced a rate hike as early as March is on the table. Commodity prices have struggled in this environment and hurt the Aussie dollar. I see this pair making a new low as more bears enter the market. This technical set see's a strong downtrend with a pullback failing to close over the 0.61% fib level and downward ...

SOFRONOFX SOFRONOFX AUDUSD, 60, Short ,
48 0 2
AUDUSD, 60 Short
AUD/USD downtrend continuation

Bearish pennant formed indicating a continuation of the downtrend. This market is coming up to an area of resistance which should trigger some movement to the downside and make a new low. NFP later this week so hopefully out before that.

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