AUDUSD Negative Divergence Daily Suggests Sell.
AUDUSD negative divergence suggests a sell signal in the daily time frame. This implies that the AUDUSD will move downward for the near term future.
We can not be sure what the long term outlook will be for the AUD or the NZD nor the CAD as they tend to all move in tandem. For now we have evidence
that these three currencies will move downward to sideways. The idea to enter such trades is to enter on a sell signal on the hourly which offers better prices and allows us to manage our stops better. If you look at my other charts you will see how I enter into positions in the hourly timeframe.
We can not be sure what the long term outlook will be for the AUD or the NZD nor the CAD as they tend to all move in tandem. For now we have evidence
that these three currencies will move downward to sideways. The idea to enter such trades is to enter on a sell signal on the hourly which offers better prices and allows us to manage our stops better. If you look at my other charts you will see how I enter into positions in the hourly timeframe.
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Not bad huh?