AUDUSD Short Opportunity
Overall this pair is very bearish and all signs show that it will continue to be bearish on all significant timeframes.
To enter short we want to see a pullback or a break and retest.
Two potential entries would be:
Look for a minor pullback on a lower timeframe to 0.60500 area followed by strong bearish setups and confirmations
Look for a break of support around 0.59500 followed by a retest with strong bearish setups and confirmations
If we see one of these scenarios play out we are looking to target lower toward major support levels like our monthly level around 0.58000
Overall this pair is very bearish and all signs show that it will continue to be bearish on all significant timeframes.
To enter short we want to see a pullback or a break and retest.
Two potential entries would be:
Look for a minor pullback on a lower timeframe to 0.60500 area followed by strong bearish setups and confirmations
Look for a break of support around 0.59500 followed by a retest with strong bearish setups and confirmations
If we see one of these scenarios play out we are looking to target lower toward major support levels like our monthly level around 0.58000