AUD/USD Good point to sell
Long term trend is short. We have a short term retracement like a triangle. The price break downside of triangle, 50 and 200 SMA and now make retracement to 50% Fibonacci. The price make lower lows and lower high’s.
Indicators:
Indicators give us signals for sell trade.
Dem 14 is in the overbought zone and at this moment rotate. This is a negative signal for the price.
50 under 200SMA: Negative formation for the price.
The price is open today with GAP, and make retracement to close price in two hours.
Today is a DAY OFF for the US Shares and we can’t see significant movements.
This is the daily chart and we should to wait to close a signal bar. If he close under 50% Fibonacci the deal is good. If he can’t close there the scenery is not good for strong sell.
Stop Loss: 0.7570
First target: 0.7170
Junior trader P.Milanov
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