AUDUSD: The Perfect Setup for Shorting

The price reached the resistance zone formed by SMAs and 0.72000 resistance level. In spite of a bullish signal from MACD histogram, I would prefer to search for trade opportunities for shorting. During the next week the market will be able to give us interesting trading signals in the hourly and minutes charts. The main profit target for short trades will be 0.70000 support. Stop orders for all short trades must be placed above the local swing high and resistance levels.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.