AUDUSD: Stopped and reversed at 0.9487

0.31 gmt

The Aus employment report was going to be a big factor and it has surprised to the downside. My trailing stop around 0.9495 was hit and I have closed the long and reversed short here. I expect we will see 0.93 soon.

Closed long AUD at 0.9487, -34 pips.

Now short $7/pip at 0.9487, SL 0.9525

 

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2 thoughts on “AUDUSD: Stopped and reversed at 0.9487

    1. ZenFXTrader

      Thanks Dave, wish you luck!
      On the daily, all the pairs have produced a bear flag, ie showing USD strength. Euro was the weakest, cable the strongest. The DXY is in an uptrend which mainly implies the UJ will get stronger and EU will get weaker, but it does press down on other pairs too. The Aussie is pretty well supported, but I reckon the Aussie is running on fumes. Very likely to test 0.93 at least in the next week. But hey, I am often wrong, the market is right, and when the market shows me I accept the lesson and flip 🙂
      I could slap myself for not taking the EU short over the past 2 days, the EU has been so heavy. I saw many opportunities but decided to let the ECB meeting pass to avoid event risk. C’est la vie.

      Like

      Reply

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