AUDUSD – SELL -10th June 2020

AUDUSD – SELL -10th June 2020 (Closed)

Good morning team,

Unfortunately EURUSD ruined a clean sweep yesterday. Overall solid day, we have taken gold just now with a 130 pip profit. Based on all USD pairs and their current positioning, we see a potential stronger USD later which may prevent gold from pushing higher.

Tonights main event is going to be the FED projections for the next 3 years. Please jump into telegram and read the full fundamental update.

The AUDUSD from a technical perspective looks to be a great entry point.

AUDUSD 1 Hour Charts

Firstly we have seen a broken wedge formation followed by a head and shoulders set up.

We are now looking to sell the pair in anticipation of further downside.

Trade Setup: SELL, Market execution, current price 0.6946, stop loss 0.7026 and take profit left to run (targeting the 0.6770 level). 

Stop loss: 80 pips

Take profit: 176

If the market pushes higher throughout the day we may add a second position from a higher level.

Trade Setup
SELL - Market Execution

Entry
0.6946

Take Profit
0.6770

Stop Loss
0.7026