AUD/USD soon good to short?

Trading Discussion
1

Hi guys,

I’m watching the weekly chart of AUD/USD, and what it tells me is that this pair is on the very support level of a large consolidation box.

There is a picture:

Once it falls below the level of blue line, it should be a sign free fall selling. However, if it bounces back, does it also mean that I can then start short term buying by tweaking the timing in 4hrs or daily chart?

Thanks!

wllen1

2

According to my charts aud/usd in the last 2 years has always reached a price peak late Feb/early March before taking a plunge. I can see a few fundamentals (retail and cpi) that have effects on the AUD this time of year (probably few other western countries as well). Short term buys ? Always long oppturnities but not sure it’s the safest time (IMO) to be long the AUD

3

So in your opinion, its wiser to wait fall below support of consolidation, and then start selling?

4

That’s what I would go off based on your charts I would be short when it fell below that blue line. I have not looked into the 4hr charts based on history PA in feb/mar. When I look back over the weekly for the last few years the candles (range) seems very small.