I posted 2 AUD Swing Trade setups yesterday.
Here is the update.
1) EURAUD … just moved sideways. This is the perfect (bad) example of trading with both weak currencies. I just analyzed the setup purely based on the chart. But considering the fundamentals, both are weak… In most cases, it is better to trade with Weak currency + Strong currency. For the setup itself, I still think the setup is valid. So if you really want to trade this pair, you can still follow my original setup.
2) AUDUSD … the price dropped down nicely yesterday, though the movement was very slow, and it made a new Lower Low (on H4) which confirms AUDUSD is back on the downtrend!!
So here is the new Sell-zones.
Hope this review helps you develop your own trade plans.
YJ Baik – Forex.Today @ Tokyo