AUDUSD – SELL – 1st April 2020

AUDUSD – SELL – 1st April 2020 (Closed)

Good afternoon guys,

On this set up we are looking to go in the favour of the USD.

We are looking to place a hedge on our EURUSD trade. The idea is one trade should win and one might lose.

USD INDEX 

The USD Index looks like it is setting up for a rally higher. There is potentially an inverted head and shoulders pattern.

AUDUSD – Technical Analysis

1 Hour Charts

There is potentially a bear flag set up, which could lead into a head and shoulders breakout to the downside.

Trade SETUP: SELL Market Order AUDUSD: Current market price 0.6110, stop loss will be set at 0.6170, take profit 0.6000

Stop loss: 60 PIPS

Take Profit: 110 PIPS

 

Trade Setup
SELL - Market Order

Entry
0.6110

Take Profit
0.6000

Stop Loss
0.6170