AUDUSD Monthly Chart. More pullback before going Long
I rarely look at the monthly charts but decided to take a look and a simple trend line to the up clearly shows AUD is looking to touch that trend line.
Depending on how you draw your trend lines will determine where the bottom might be. My previous analysis (Before seeing this) was for the AUD to hit 0.75 and possibly go further down to 0.72.
There is also some decent support not far below 0.72 which provides a good counter trend entry.
Will still continue to trade this short and pick out the opportunities as they come. If 72 is hit...I AM IN LONG LONG LONG
Sentiment:
Monthly - Switching to Neutral. Sentiment to go Long will change once 0.72 area is tested.
Weekly - Short
Daily - Short
Depending on how you draw your trend lines will determine where the bottom might be. My previous analysis (Before seeing this) was for the AUD to hit 0.75 and possibly go further down to 0.72.
There is also some decent support not far below 0.72 which provides a good counter trend entry.
Will still continue to trade this short and pick out the opportunities as they come. If 72 is hit...I AM IN LONG LONG LONG
Sentiment:
Monthly - Switching to Neutral. Sentiment to go Long will change once 0.72 area is tested.
Weekly - Short
Daily - Short