AUD/USD Potential trend continuation trade.
-The pair has been going down for the past 28 days without major pull-backs(as indicated by the by the Black arrow)
-The 100 EMA crossed below the 200 EMA which is a a strong indication that the market will be a down-trend for a long time.
- In order to get into a trend continuation trade, you will have to wait for the market to retrace back to the 0.6835 resistance zone.
ORDERS
Sell at; 0.6835
Stop Loss; 0.6886
Take Profit at ;0.6728
-The 100 EMA crossed below the 200 EMA which is a a strong indication that the market will be a down-trend for a long time.
- In order to get into a trend continuation trade, you will have to wait for the market to retrace back to the 0.6835 resistance zone.
ORDERS
Sell at; 0.6835
Stop Loss; 0.6886
Take Profit at ;0.6728