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Good day, dear traders! I present to your attention a trading idea for AUDUSD.
Recently, the AUDUSD pair is under division. This is due, among other things, to the lack of results in trade negotiations between the US and China. The manufacturing and services sectors in Australia are slowing, and against the backdrop of a strong dollar – a weak Aussie – this is a downward trend.
The strengthening of the US dollar at the end of last week occurred on all fronts – in EURUSD, USDCAD, and gold. The stock sector is also growing. In this regard, I propose to work to lower the Australian against the US dollar on a daily scale:
The probability of collecting buyers' stops in 2 weeks is very high in such a downward trend. The second target is as interesting as the base of the impulse bar, which attracts the feet of buyers like a magnet. If you want to hold short positions, then after the breakdown of the extremum on November 14, I recommend moving positions to breakeven.
The analysis is provided as part of the strategy Price Action and "hunt for stops".
Good luck in trading, and follow the money management!
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