Short AUDUSD @ 0.9111

13.49 gmt

I’ve missed the boat big-time on this pair. First signal was when this pair was at about 0.9340, another one at 0.9200 today. I’ve been waiting for a bounce, which hasn’t come. I should remember the Aussie traders’ quip: The Aussie climbs the stairs but comes down in the elevator!

The relentless downward pressure this week means a very high chance we will break the recent low at 0.89xx. That’s still over a 100 pips away, and the risk appears low from the charts so far.

Short $8/pip AUDUSD @ 0.9111, SL 0.9186.

Advertisements

2 thoughts on “Short AUDUSD @ 0.9111

    1. ZenFXTrader

      Hi Johannes, the technical picture very strongly suggests this pair should test the previous low at least – that is 0.8850. Watch the price action there, since there would be huge stops below that level which would be targeted by the sellers. So a breakdown below 0.8850 might go down a further 100 pips. But as always, I’ll watch the price action for clues. Technically the target should be around 0.85, but it will not get there without a significant correction first.

      Like

      Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s