In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we see that AUSUSD is looking bearish again.
Looking at the markets, we have been in a downtrend for quite some time and we have capitalised on quite a few of these trades over the last year and a half. It looks like another high probability opportunity is lining up for us.
For over a month now, we can see prices bouncing off their 0.6860 lows and pull back to a strong level of resistance around 0.7000 level. This opportunity for selling has proven significant, creating an easy to identify bearish engulfing candlestick. This means that if we see prices break below 0.6955 we can really see this market extending lower.
AUSUSD Is Looking Bearish Again – Full Video Analysis
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