Australian Dollar | US Dollar Short Trade Scenario
Hello everyone,
On this short-term trade, I bring my technical analysis on the Australian Dollar|USD pair. The asset as break this symmetrical triangle chart pattern downwards and with a stronger dollar momentum, I’m personally looking to sell the asset on this correction thinking that the price as room to fall until the 0.71 level, on a Daily Timeframe.
But for now, I will stick to a short-term outcome pointing in the directions of the 0.7250 level
Key Note: The asset price ended the week transacting overbought, which means 2 things, it is overpriced and it is strong, so we could see a weekend gap. Usually, these gaps are filled during the trading day.
This market analysis is just an investment idea, the same shouldn't be taken as a financial counselling without risk involved.
CFD´s are very complex financial products that can result in the loss of most capital invested.
On this short-term trade, I bring my technical analysis on the Australian Dollar|USD pair. The asset as break this symmetrical triangle chart pattern downwards and with a stronger dollar momentum, I’m personally looking to sell the asset on this correction thinking that the price as room to fall until the 0.71 level, on a Daily Timeframe.
But for now, I will stick to a short-term outcome pointing in the directions of the 0.7250 level
Key Note: The asset price ended the week transacting overbought, which means 2 things, it is overpriced and it is strong, so we could see a weekend gap. Usually, these gaps are filled during the trading day.
This market analysis is just an investment idea, the same shouldn't be taken as a financial counselling without risk involved.
CFD´s are very complex financial products that can result in the loss of most capital invested.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.