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Short term
Trade view / 25 July 2016 at 7:45 GMT

Bearish signals confirmed for AUDUSD

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

Bearish signals for last week, and in each of the last four trading days, have been confirmed, as investors sold the market to post five lower daily highs in a row and a loss of just over one and a quarter Big Figs.

A sequence of higher weekly lows has been ended, and this is negative for sentiment. Daily signals are somewhat oversold, so there is the potential for a bounce to start this week -- but this should be a temporary selling opportunity.

Management and risk description

Sell modestly at market, with a preference to sell the rally. Lower your stop to entry if the first target is met.

Parameters

Entry: market and 0.7543, the 13-day average rate.

Stop: 0.7677, July's high.

Target: 0.7322, the 3-week low, and 0.7149, just above May's base.

Time horizon: this week.


Source: CQG  

AUDUSD Weekly -higher lows ended
Source: CQG 

Five-year AUDUSD:
AUDUSD

Create your own charts with SaxoTraderGO click here to learn more

Source: Saxo Bank 

— Edited by D. Deacon

Non-independent investment research disclaimer applies. Read more
26 July
Andrey Derimarko Andrey Derimarko
you can sell?
26 July
Steve Lucas Steve Lucas
I am small short on the weekly call...market may go higher today though
27 July
Andrey Derimarko Andrey Derimarko
hi Steve! down so far so good!
27 July
Steve Lucas Steve Lucas
yes, but usdjpy mixed & volatile....equities mixed...signals murky today..
27 July
Steve Lucas Steve Lucas
The sell limit was traded at .7543...we would take back half of the overall position size and lower the stop to Wednesday's .7561 top.

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