Currency pair - AUD USD
Sell at - 0.68102
Take profit at - 0.665
✔ Profit AUD USD 160 points

Last week, the AUD/USD pair showed a green candle, indicating an uptrend in the market. The current movement leg has also been upward, further supporting this trend. However, it is important to note that the resistance line is approaching, and the upper Bollinger Bands (BB) proximity suggests that an overbought condition may soon be reached. In light of this, it is prudent to consider a counter-trend strategy and initiate a short trade.

The target for this trade is set at 0.665, as this level is expected to serve as a key point of reversal. By taking a contrarian approach to the prevailing trend, traders can potentially capitalize on the imminent correction in the market. It is essential to closely monitor price action and key support/resistance levels to effectively manage risk and maximize profitability in this counter-trend trade.


Take Profit AUDUSD 160 points

Take Profit AUDUSD
Disclaimer. No Investment Advice Provided.
Any opinions, discussions, reports, news, research, analysis, prices, as well as any other data presented on this website, is information on general financial markets, use it only in educational and entertainment purposes, and is not a recommendation on investment. Opinions, market data, recommendations, as well as any other information can be changed at any time without notice. is not responsible for any loss or loss, including, but not limited to, any profit loss due to directly or indirectly using such information or confidence.

Privacy of Site | © 2024 All rights reserved.

Need help? Contact us!