Selling AUD/USD at Moving Averages
Skerdian Meta•Wednesday, March 17, 2021•1 min read
[[AUD/USD]] used to be the most bullish pair from March last year when the USD turned bearish, until the last week of February, climbing 24 cents from the bottom. But, it reversed down in the last week of February, as the long term decline in the USD stopped.
The price reversed back down after popping a few pips above 0.80, flushing out some weak stops above that big round level. The price fell nearly 400 pips but it retraced higher last week. We decided to take a sell position today, as the 50 SMA (yellow) which has turned into resistance pushed the price down. Now this pair is heading down, so we’re keeping this trade, targeting 30 pips.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR
See More
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.
Related Articles
Comments
Subscribe
Login
Please login to comment
0 Comments
Oldest
Sidebar rates
Add 3442
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals