AUDUSD 1 HR SHORT
ENTRY AT 0.6880 ON THE 20SMA.
I like this for an entry as 0.6880 is a key level, if price is unable to break this level, the previous low at 0.68613 is likely to be retested.
This is a high probability trade as the narrative for AUD is bearish, sellers have momentum. For this trade to work out price only has to go where it has gone before. There is no data today, and in this low volatility environment, I think that technicals will chug along nicely and enable a few easy pips to be grabbed.
TAKE PROFIT AT 0.6863 a few pips before the previous low. (17 PIPS PROFIT)
STOP LOSS - 0.6890
ENTRY AT 0.6880 ON THE 20SMA.
I like this for an entry as 0.6880 is a key level, if price is unable to break this level, the previous low at 0.68613 is likely to be retested.
This is a high probability trade as the narrative for AUD is bearish, sellers have momentum. For this trade to work out price only has to go where it has gone before. There is no data today, and in this low volatility environment, I think that technicals will chug along nicely and enable a few easy pips to be grabbed.
TAKE PROFIT AT 0.6863 a few pips before the previous low. (17 PIPS PROFIT)
STOP LOSS - 0.6890