After quite a drought, AUD/USD has shown signal on divergence. How to take opprtunity from this? Check my analysis below.

Hello traders! I have been so patient lately because the AUD/USD pair is not showing any great opportunities. My last trading opportunity was cancelled because it didn't meet the requirement. I have been looking for any signal to enter the trade and I think I found one today.

audusd
On the H4 chart, we can see the price broke the lower trend line but turned out it was a fake breakout. The price rose to level 0.7160 but couldn't move higher. A shooting star candlestick on this TF is showing that there is a rejection to move higher.

audusd

On the hourly chart, there is a bearish divergence near upper trend line. I am going SHORT.

  • Position: SELL at 0.7085
  • SL & TP: around 0.7140 & 0.7000

Use proper risk management and always pay attention to price actions.

P.S. If you have any question that needs immediate answer, please post it in the Facebook Comment section.

 

Good Luck, Happy trading!

RICO FY
Forex Analyst and Trainer at PT. Mentari Mulia Berjangka