220 PIP in the pocket

Last week I posted an AUDUSD trade to watch for a break of the 1.7550 level. This level broke and rewarded traders with approx. 220pips. Whether it will drop 1000 pips is to be seen, but as I commented, this pair falls very hard on bearish candles on the Weekly charts. Friday closed yet again with a bearish candle on the weekly chart, but it is oversold, so wait for a pull-back before selling it to the next support level.

AUDUSD - 220pip fall

Source: Maryna Murray