AUD/USD Time For Shorts Has Come

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

According to CAMMACD.mtf V2 the time for shorts has come. The AUD/USD has reached the confluence zone and next bearish candle configuration should provide bearish momentum.

The AUD/USD confluence zone is 0.7425-35 and if the bears manage to stay below 0.7460 on intraday time frame, the AUD/USD should be dropping. We have also multiple trend lines suggesting bearish movement in addition to BB being broken from the topside. Targets for this move are 0.7400 and 0.7375. However for further drop 0.7362 needs to break. In that case bears could look for sub 0.7350 targets – 0.7320 as the first one.

Many green pips,
Nenad Kerkez aka Tarantula FX

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