Hi just makin sure when I decide to open position at start of London market. Even when actual data is lower than forecast it would still be a bearish on AUD currency? Also, next time should i compare the actual data with the forecast or from previous data? Thank You in Advance!
Higher TF’s on my AUD/JPY all show a long term upward trend. That doesn’t mean there won’t be pullbacks on lower TFs today.
Depends if you’re a scalping trader where your stategy could work in your favour on the lower TFs, or a swing trader where selling short would be against the trend.
Either way, it’s close to a 50 - 50 trade. You could set a pending Sell Stop trade below 83.90 current sell price.
Best of luck.