AUDUSD - Selling opportunity setting up.

10 nov 2017

This will be the 3rd time the market is trading this area, with alittle bit of bearish price action and also the USD Index in a good place to trade up I am expecting to see this pair trade down to the lower bounds of this triangle/pennant pattern. I will look to take off half my position at the lower trend line and then watch the price action around this 0.7630 area. If we see more bearish price action then I would expect to see a break down lower with the pair looking to test the 0.7587 region. My second profit target would be 0.7693. A close above 0.7750 would the bearish theme no longer. Stop is set at 0.7735