My bias is that I am a bear on AUDUSD. Please take a look at my trade plan for opportunities to sell.

AUDUSD Daily

The 21 EMA is below the 55 EMA, indicating a downtrend. Price has already broken the 21 and 55 EMAS. Price opened at MM2 and is about to reach MM4, which is bulls’ monthly target, an important resistance level and a psych level midpoint. I am expecting a reversal at that point then start selling with a monthly target of MPP, which is also a psych level. Stochastic is also overbought. Further resistance will be anticipated at EMAS levels.

AUDUSD H4

The 21 EMA is above the 55 EMA. Stochastic is overbought. Price opened between WM3 and WPP.

AUDUSD H1

The 21 EMA is above the 55 EMA. Price is currently at DM4. Stochastic is point down.

One thought on “AUDUSD SHORT SET UP”

  1. Daniel Chan - Forex.Today says:

    Thanks Laurence very good analysis 🙂

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