Forex Technical Analysis, AUD/USD Daily Forecast June 3, 2016
Technical Analysis – The AUD/USD pair initially fell during the course of the day on Thursday, but turned around to form a little bit of a hammer. That of course is a sign of support, but we have a significant amount of resistance at the 0.73 level as the market has found itself forming a shooting star from the Wednesday session. Ultimately though, at this point in time I still feel that the Australian dollar will probably fall, but if we get above the 0.74 handle, at that point time I would be convinced that the Australian dollar will continue going higher.
In Other View Point – AUDUSD – BEARISH Strategy
Go short the AUDUSD if it trades at 0.7197 or lower. If triggered, place your stop at 0.7305 and exit the position for a profit at 0.7133 or at your own discretion. (Signals are valid for 1 day only. Always invest wisely). In this signal you don’t get the following: 1. How to identify the trade setup 2. How to identify short term trend 3. How to protect gains in your trade 4. Market deciding price exit for large moves in the market 5. Money management 6. Buy/Sell line which let you know when to buy or when to sell 7. Rules of gap opening Learn the rules of a strategy.