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.