Time to pull back up
:)
DXY stayed in consolidation after yesterday's drop. AUD didn't manage to keep the gains from yesterday however it did create higher high and higher low.
AUDUSD pair has reached to a very low level close to the lower end of its weekly trend channel (purple line), and if no more further surprises, it should start some decent pull back movement (or otherwise continue going lower like a disaster over the weeks).
I have entered my trade at 0.734 and wish it will never look back.
The upward target has a sky limit, so if you do swing trade, you can target high. For me 1.7371 is the first target and then I'll be trailing.
SL: below 0.7316
TP: as stated above. If you want to hold trades for days, you may want to target much higher although with dollar strength I'd rather like chewing bites in day trading styles.
GL
DXY stayed in consolidation after yesterday's drop. AUD didn't manage to keep the gains from yesterday however it did create higher high and higher low.
AUDUSD pair has reached to a very low level close to the lower end of its weekly trend channel (purple line), and if no more further surprises, it should start some decent pull back movement (or otherwise continue going lower like a disaster over the weeks).
I have entered my trade at 0.734 and wish it will never look back.
The upward target has a sky limit, so if you do swing trade, you can target high. For me 1.7371 is the first target and then I'll be trailing.
SL: below 0.7316
TP: as stated above. If you want to hold trades for days, you may want to target much higher although with dollar strength I'd rather like chewing bites in day trading styles.
GL
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