Currency Pair: AUDUSD

Action: Sell a 50% sized position at market (0.7350) and a 50% sized position on a sell limit at 0.7389
Stop-loss Price: 0.7425
Profit Targets: 0.7329, 0.7288, 0.7225
Time Frame: Short-term
Order Good Till: Close any open positions and pending orders at New York Close (5pm EST).

Comments: Although the AUDUSD had posted trends of lower daily and weekly highs, yesterday’s signals were more cautious and switched from bearish to neutral. This caution was justified as buyers returned to the market and for sentiment to rally by O.5 Big Fig on the day. However, those trends remain intact so the recovery is probably corrective and temporary. With this in mind the outlook for Thursday switches back to bearish and the call is to sell on the open and then at .7389, just below Tuesday’s high with a stop loss at .7425, this week’s top. Targets are to .7329, this week’s low, .7288, the 17 week base and .7225.

 

Note: Close 1/3 of your current position at each profit target.

View a training video about how to trade this signal

View videos about the analysis used in the signal

View a cheat-sheet on candlestick patterns

We highly recommend you set-up the members only Twitter feed with an attached alert as the fastest way to receive short-term signals.