Hello Traders,
Here we're looking at AUDUSD on the 1 Hour looking for a possible sell coming. I would love your honest thoughts on this setup we might be forming currently. As you can see with the arrows I have two possibilities to look for, both ending up for a longer-term short on the pair. We could see the price move further up to hit that strong resistance and be rejected and see a move to the downside. What I could see happening is being rejected at its current level of 0.62418 and being sent into a small move to the downside to the range of 0.61201 and then making a move to the upside to get rejected on that strong zone around 0.62895. If we see this I expect to see a longer-term move to the downside. What do you guys think?
Here we're looking at AUDUSD on the 1 Hour looking for a possible sell coming. I would love your honest thoughts on this setup we might be forming currently. As you can see with the arrows I have two possibilities to look for, both ending up for a longer-term short on the pair. We could see the price move further up to hit that strong resistance and be rejected and see a move to the downside. What I could see happening is being rejected at its current level of 0.62418 and being sent into a small move to the downside to the range of 0.61201 and then making a move to the upside to get rejected on that strong zone around 0.62895. If we see this I expect to see a longer-term move to the downside. What do you guys think?