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01 March – AUDUSD – Short

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 1, 2016.

  1. Sandra S.

    Sandra S. Forum Member

    Sep 1, 2015
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    Aussie continued higher towards 0.7260 during past week’s trading. After reaching a major resistance at 0.7260, it collapsed and closed the week at 0.7130. This was mainly due to a positive data out of US market last Friday. At daily charts AUDUSD printed a massive engulfing candle closing below the previous four sessions. This is a good bearish signal. Stochastics are overbought and favour short setups. Looking at lower time frames, Aussie failed to climb above the recent high of 0.7260 and

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