Short-term Trading Idea FX AUD/USD – Bear Speculation

Trading opportunities for currency pair: a pinbar with an upper shade of 130 points has formed on the weekly. It”s a shame that the body is bullish. It”s highly likely that there will be a bounce. Look to sell from 0.7760 with a 0.7535 target. If the trend line is broken, set a target at around 0.7430. Don”t sell the Aussie if oil prices rise. A fall in the rate will be nullified by a close of the weekly candle above 0.7834.

Background

A pinbar with a 0.7834 maximum and a close price of 0.7704 has formed last week. The Aussie has updated its maximum due to the rise in oil prices. On Thursday after Draghi spoke the rise in the dollar saw the Aussie lose out.

Current Situation

Although the week”s candle closed with a bullish body, an upper shade at 130 points is enough for us to sell the Aussie with a 0.7384 target. Firstly though, we need it to close below 0.7630. We don”t need to sell the AUD straight away since we often see a reverse movement before the price falls, allowing buyers to exit long positions at a decent price. Sales on the rebound can be considered from 0.7760. Don”t sell the Aussie if oil prices rise.

On 27th April the US Fed will let us know its interest rate decision. No one expects them to up the rates. Therefore, if the Aussie in the first two days of the week does not strengthen against the dollar, it”s unlikely that it will return to 0.7834. At the moment we can consider the Australian currency falling to 0.7535. If the trend line is broken, we can set the target at around 0.7430.

Why not take advantage of the improved version of the Trader”s Calculator.

Calculate the swap and point cost >>>

Source:: Short-term Trading Idea FX AUD/USD – Bear Speculation

About the Author
Alpari was founded in 1998 and is one of the world’s leading Forex brokers, offering clients a full package of the most modern financial instruments and technological solutions for online trading and investment. According to data from Finance Magnates, Alpari has been one of the largest Forex brokers in the world for a number of years. The trading turnover of the Alpari companies in 2014 was 2.5 trillion USD. Today Alpari is the world’s largest MetaTrader 4 Forex broker. The first half of 2015 saw company branches offering their services to over one million clients from over 150 countries in the world. Alpari clients have access to over 50 currency pairs and an extensive range of other instruments. The company offers the use of three trading platforms for computer and mobile applications for use with iOS and Android. Alpari is a member of international organizations such as The Financial Commission (Hong Kong) and CRFIN (Russia). Bonuses: the Alpari Bonus Program was launched in 2014 and allows clients to independently change their conditions for working on the financial market: reduce commission, save money on swaps, improve conversion rates and much more. Read More about Alpari HERE or you can visit their website direct by CLICKING HERE..

Related Posts

Leave a Reply

*