After a long period of bearishness in December thanks to dollar strength the pair was due for some retracement. The year started very well for Aussie which gained some strength the first couples of days in January. On the contrary the greenbuck lost some ground in the same period due to profit taking for tax purpose.
After today’s worse then expected Retail Sales from Australia and negative CPI from china Aussie lost strength.
DXY Price raising from support (21ema) , we could see some dollar strength
Further details below

Market Direction : Bearish 21 still below 55 EMA. Price action : bullish 5 ema above 8 Daily stochastic over bought. Price reached the Fib Zone stated falling . should have waited for price to break through the support of 21 ema. to sell

Here also price reached fib Zone , but market direction and price action still bullish. Stochastic overbought Should have waited for price to exit fib zone and break support of 21 ema to sell. Note

Market Direction : bullish 21 Ema above 55 Price action bearish with 5ema below 8 Stochastic oversold ---> must wait for stochastic to be oversold . here price already broke 21 ema .but will sell when H4 support broken and price start making lower lows.

5 thoughts on “AUDUSD SHORT SETUP”

  1. Bonga Lwazi Khoza says:

    Nice plan Julz. Discipline and patience are all we require as traders. Aussie looks good for a sell but im just weary the dollar will decide to instigate some losses to the gains. As long as you have your bias just keep looking out for levels of resistance to sell.

  2. Malesela Nkwe says:

    Hey Jules.. I hate Dollar.. It fluctuates a lot and causes havoc for us..

  3. Malesela Nkwe says:

    Jules, I forgot to remind you to rmber your stop losses for each trade.. I have heard somewhere that we need to cut our losses and let our winners run. I think Wayne said such as well..

  4. Daniel Chan - Forex.Today says:

    Thanks Julie , excellent analysis 🙂

  5. jean janssen says:

    Thanks Julie, hope you are right, I’m a bear on this pair too, but afraid I entered (0.7390) too early (still very unexperienced) we’ll see …

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