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Short term
Trade view / 19 September 2016 at 7:35 GMT

AUDUSD signals open sub-0.7500 potential

partner and technical analyst / 3 c analysis
United Kingdom
Background

Signals for the AUDUSD have been bearish in each of the last two weeks and these have been confirmed, after investors sold the market last week to post initial losses of 1 Big Fig. This has ended a sequence of higher monthly lows which is supporting the negative view, but with prices testing their key 100- & 200-day average rates,   signals are pointing to selling the rally this week.

Management and risk description

Only sell modestly at market and then on the rally. Lower stop to entry if the first target is met.

Parameters

Entry: sell at market and 0.7582, the 50-day average rate.

Stop:
0.7658, the September 9 top.

Target:
0.7456, just above Thursday's low and 0.7322, the 12-week base.

Time horizon: this week.


 Source: CQG


AUDUSD Weekly -rally stalls
 Source: CQG

AUDUSD Monthly - recovery to losses
 Source: CQG


AUDUSD Quarterly - 7 year lows
 Source: CQG


— Edited by Martin O'Rourke

Non-independent investment research disclaimer applies. Read more
19 September
Michael Liu Michael Liu
Stop price is too far away from current price.
19 September
Steve Lucas Steve Lucas
Hi Michael - this is a weekly call and the stop is good - the 2nd target is 2 Big Figs away which keeps the trade valid.
19 September
Michael Liu Michael Liu
Ok, understood
19 September
Dj TinTin Dj TinTin
I'm in Steve ready for another weeks hammering (hope not )
21 September
Paul Sumner Paul Sumner
Hi Steve, is this trade still valid? Do you plan to close the trade before FOMC? Many thanks
21 September
Steve Lucas Steve Lucas
Hi Paul - I'll probably keep very small until Friday lunchtime if not stopped beforehand
22 September
Michael Liu Michael Liu
Hi Steve, Do you still hold this position?
22 September
Steve Lucas Steve Lucas
Hi Michael - I kept tiny going into Fed, but cut last night

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