AUD/USD (Daily Chart) - Downtrend Continues
This pair is on a strong downtrend, and based on our previous post, we have been waiting for a good pullback to short this counter.
Now that price has pulled back slightly and is near the 20-EMA which should provide some resistance, and is exhibiting price weakness, we can consider initiating a short position.
Reward/risk is good as well, since a small stoploss is good enough due to low volatility.
Cheers
Spencer
Now that price has pulled back slightly and is near the 20-EMA which should provide some resistance, and is exhibiting price weakness, we can consider initiating a short position.
Reward/risk is good as well, since a small stoploss is good enough due to low volatility.
Cheers
Spencer
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