Flag on AUD/USD

Flag on AUD/USD

On the AUD/USD currency pair, the bearish sentiment has been prevailing for quite a long time. At the moment, a classical figure of the technical analysis, Flag, (M15 timeframe) has been formed, which is a continuation of the current trend. Indicators point to the power of sellers: the price has fixed below 50 MA and 200 MA; The MACD histogram is in the negative zone and continues to decrease. We recommend you to pay attention to this formation.

If the price fixes below the local support of 0.77200, you need to look for entry points to the market to open short positions. The immediate goal of fixing the profit is 0.76800. In the medium term, the AUD/USD currency pair may reach the level of 0.76500-0.76250. When tracking the position, we recommend using a trailing stop.

by JustForex, 2018.03.01

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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