Week 4 2020 - AUDUSD

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Hi traders,

The AUDUSD asset was mainly controlled by dollar flows and tensions between US-China last week with further clarification on the deal.

This week I am using the Tom Demark's pivot indicator to determine a trend. It is showing we are bearish on the break of S1. And the stochastic seems like it is in a continuation to the downside.

The 68500 level is where we need to be looking at in the long term. If we can get a move below then we will confirm the head and shoulders. Trade shorts with caution because we have been quite choppy this past few weeks.

all the best,
Aardall

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