Forex Report and Trading Idea - AUD/USD Short 09/02/2016
RECOMMENDATION: SELL
SUMMARY:
The primary trend of AUD/USD is bearish on charts and price is trading below the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is had an important resistance at the level of 0.7150 and support at the level of 0.7220. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS:-
MACD is sustaining in its negative zone indicating the bearish trend in the pair.
RSI is sustaining near its selling zone indicating the upcoming bearish trend in the pair.
STRATEGY:
AUD/USD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.
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SUMMARY:
The primary trend of AUD/USD is bearish on charts and price is trading below the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is had an important resistance at the level of 0.7150 and support at the level of 0.7220. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS:-
MACD is sustaining in its negative zone indicating the bearish trend in the pair.
RSI is sustaining near its selling zone indicating the upcoming bearish trend in the pair.
STRATEGY:
AUD/USD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.
www.tradingsignalreviews.com
