AUDUSD (3/22/15) Daily outlook
Things to note on AUDUSD:
1. Critical 61.8% retracement level has been broken. Indicating sellers are in control.
2.The best entry short would to wait for a monthly halfway back, entering at a level around .85347
3. Intraday trading we are only taking shorts until daily fib swings show bulls are in control.
Target #1 short is .71167.
Daily Stochastic: Overbought
Monthly Stochastic: Over Sold
This pair is a little unbalanced currently, but many opportunities to make smaller time frame trades.
1. Critical 61.8% retracement level has been broken. Indicating sellers are in control.
2.The best entry short would to wait for a monthly halfway back, entering at a level around .85347
3. Intraday trading we are only taking shorts until daily fib swings show bulls are in control.
Target #1 short is .71167.
Daily Stochastic: Overbought
Monthly Stochastic: Over Sold
This pair is a little unbalanced currently, but many opportunities to make smaller time frame trades.
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