Updated

AUDUSD Weekly Trade Analysis

AUDUSD > 10/8-13/17 Trade Analysis
Timeframe: 1W

Pair broke below support @ 0.7807 with MACD showing bearish divergence, expecting further decline toward 0.7727

A firm break and hold below 0.7727 would signal good possibility of further decline toward 0.7633 level.

Expecting bearish trend to continue with price needing to remain below 0.7820 for continual confirmation.

A firm break and hold above 0.7820 would indicate bearish trend is weakening. Firm break and hold above 0.7874 would serve as indication that bearish trend is complete and a reversal would come back in play.

* Personal analysis only. Please use your own rules and strategies prior to entering market.

** Forex trading involves HIGH RISK.
Before entering a trade, carefully consider your objectives, financial resources and level of experience.

Note

SELL Stop Order placed
Entry @ 0.77598
T/P @ 0.76652
S/L @ 0.78544
Target = 94.6 pips

Trade active

Note

Consolidating. Expecting rise up to 0.7820 level +

Setup decline anticipated

Note

T/P changed to 0.75382

Note

SELL Stop Entry placed
Entry @ 0.78186
T/P @ 0.77056
Target: 113 pips

1 Sell active
1 Sell pending

Note

T/P @ 0.77056 on both Sells

Note

Sell Stop Entry order cancelled

Note

SELL Stop Entry placed @ 0.77654
T/P @ 0.77056

Note

Sell Entry cancelled. I will re-enter this 2nd Sell after pullback is complete so as not to get in a "chase" mode!

Note

Watching next main resistance @ 0.7835. If firm break/hold above this level, will wait till later in week to monitor trend analysis.

If price stays below 0.7830 at AUD market close, 2nd SELL entry likely.

Note

Longterm T/P @ 0.76283

Trade closed manually

Trade closed
TP @ 0.76546
Total P/L = +105.2 PIPS

ALSM59

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