AUD/USD SELL TRADE ANALYSIS

24 Okt 2017

Using technical analysis i've noticed a huge sell opportunity on 'Aussie' (AUD/USD). i plotted my fibs on the daily and notice a Fibonacci retracement at the 38.2 % level. This is an aggressive level which is indicating that price is heading to around 0.76250-0.7500. Also, this currency has been in a uptrend channel for quite some time now. Price finally created a higher high at my Fib A level and now it seem price wants to make a new lower low. it should also be noted that, a doji candle touched my moving averages and after there was a crossover of both. All of my previous statement are indicating a significant downfall in this currency pair.