DAILY SPOT AUDUSD - Friday's trade idea and technicals
Bearish signals on the week are being confirmed, but with the downside stalling on Wednesday with prices testing their 50 & 100 day average rates, Thursday’s signals pointed to staying square on the open and to either selling the rally or down through the 100 day line. Neither level was met as sentiment traded sideways inside the previous days range for an unchanged close. However, buyers have returned to the market in Asia this morning and with signals improving the outlook for Friday switches to cautiously bullish and the call is to buy on the open and then at .6858, today’s opening trade in Asia with a stop loss at .6838, the 3 week base. Targets are to .6893, the 200 day average rate, .6933, the 13 day line and .6962, this week’s top
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