IDEA 5: AUD/USD short 2/15/23
Actualizado
I was stopped out on my AUD/USD long which admittedly was a sloppy trade with not enough analysis going into it.
I am now short AUD/USD at 0.6908 with a stop at 0.6944
Fundamentally the USD retail print was above expectations and conversely the AUD employment report was below expectations. I have noticed some publications speculating on the Australian housing market being over extended, not the same situation is not true of the USA too.
Technically price has broken below precious support and a short uptrend line. The hourly RSI has reset from oversold to neutral. That may also explain why the USD did not gain more this morning against the majors because of oversold conditions. The daily chart has also formed a bearish evening star formation, the same as EUR/USD
I am now short AUD/USD at 0.6908 with a stop at 0.6944
Fundamentally the USD retail print was above expectations and conversely the AUD employment report was below expectations. I have noticed some publications speculating on the Australian housing market being over extended, not the same situation is not true of the USA too.
Technically price has broken below precious support and a short uptrend line. The hourly RSI has reset from oversold to neutral. That may also explain why the USD did not gain more this morning against the majors because of oversold conditions. The daily chart has also formed a bearish evening star formation, the same as EUR/USD
Nota
Covered my short for 35 pip profit after EUR/USD strong bounce off support.
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