Still Waiting to Sell AUD/USD - Forex News by FX Leaders

Still Waiting to Sell AUD/USD

Posted Wednesday, February 8, 2017 by
Skerdian Meta • 1 min read

Last night before going to bed, I left a comment on the get ready AUD/USD signal. I was watching this forex pair all evening, waiting for the price to reach the 100 simple moving average in green for the second time on the H1 forex chart.

We were about 15-20 pips lower from that SMA at that time and I thought that maybe the price would get up there during the night, so I left a sell AUD/USD pending order at 0.7650.

We did the same thing yesterday with USD/JPY. We opened two forex signals in this forex pair yesterday, both of which hit the take profit target.

The 50 SMA is providing resistance at the moment. 

The price slipped further during the night, but it´s moving higher as I speak. Right now, we are just below the 50 SMA in yellow, as you can see from the forex chart above.

I would prefer to sell at the 100 SMA in yellow 15 pips higher, but the 50 SMA might be the turning point here. So, I got to make a decision. You might as well take your own decision. Sell now or wait for a better entry price higher at the 100 SMA in green?

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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