Set-Up: POTENTIAL REVERSAL

Strategy: SELL A RALLY

Key Level: 0.7176

Target: 0.7000

How We See it Playing Out

The Australian consumer sentiment numbers take a nose dive right at the same time the AUDUSD breaks through daily resistance around 0.7175. With an increase in Covid lockdowns imminent I can only see the AUDUSD falling back to 0.7000.

The ideal level to get short is back towards trendline resistance at 0.7176.

AUDUSD Hourly Chart

Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

Forex Trading Courses, workshops & funding opportunities

Get Funded
Join our Forex T4TCapital Trading Programme and let us run the risk!
Get Educated in your own time and learn how the bankers trade.
Our Complete Online Forex Trading Course is the ideal starting point for all traders, both beginners and veterans .
Make trading a full-time career
Our Fast Track Forex Trading Workshops will take you from the beginning to being a full time trader in 5 days.