Day trade
Trade view / 14 July 2016 at 5:59 GMT

AUDUSD signals point to pullback

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: AUDUSD
Price target:
Market price:

While bullish signals on the week and for Tuesday have been confirmed, yesterday’s signals highlighted the potential for impetus to stall near the June 24 high. This has occurred and although there is no clear bearish reversal pattern, signals are pointing to a profit-taking pullback.

Management and risk description

Allow room to sell rally. Call cautious until the sequence of higher daily lows is ended.


Entry: sell at market and 0.7635, just below yesterday's high.

Stop: 0.7684, a 78% recovery to the losses posted since April's 2016 high.

Target: 0.7530, Tuesday's low and 0.7485, an eight-hour bull trend.

Time horizon: today only.

AUDUSD 8 hourly - top of range
AUDUSD Weekly - recovery to losses
AUDUSD Monthly - 7 year lows
Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

— Edited by Gayle Bryant

For more on forex click here

Non-independent investment research disclaimer applies. Read more
Estuardorlemus Estuardorlemus
Hi Steve , are you still bearish on this one ? Regards
vyacheslav111 vyacheslav111
Hi, Steve ! Your opinion on AUD/USD now ?
Steve Lucas Steve Lucas
Hi - cut short out at close last night, close to breakeven...I'm long on the week and have gone long today. (see trademaker)..but my signals in this market are weak, even though it is posting higher daily lows. Better data out of china helping, as well as equities and risk on....
vyacheslav111 vyacheslav111


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