Australian Dollar | US Dollar Short Trade Scenario
Hello everyone,
On this short-term trade, I bring my technical analysis on the Australian Dollar|USD pair. The asset as break this symmetrical triangle chart pattern downwards and with a stronger dollar momentum, I’m personally looking to sell the asset on this correction thinking that the price as room to fall until the 0.71 level, on a Daily Timeframe.
But for now, I will stick to a short-term outcome pointing in the directions of the 0.7250 level
Key Note: The asset price ended the week transacting overbought, which means 2 things, it is overpriced and it is strong, so we could see a weekend gap. Usually, these gaps are filled during the trading day.
This market analysis is just an investment idea, the same shouldn't be taken as a financial counselling without risk involved.
CFD´s are very complex financial products that can result in the loss of most capital invested.
On this short-term trade, I bring my technical analysis on the Australian Dollar|USD pair. The asset as break this symmetrical triangle chart pattern downwards and with a stronger dollar momentum, I’m personally looking to sell the asset on this correction thinking that the price as room to fall until the 0.71 level, on a Daily Timeframe.
But for now, I will stick to a short-term outcome pointing in the directions of the 0.7250 level
Key Note: The asset price ended the week transacting overbought, which means 2 things, it is overpriced and it is strong, so we could see a weekend gap. Usually, these gaps are filled during the trading day.
This market analysis is just an investment idea, the same shouldn't be taken as a financial counselling without risk involved.
CFD´s are very complex financial products that can result in the loss of most capital invested.