Aussie Gold Rush

Aug 8, 2016

AUDUSD

In light of recent DXY strength off a major trend line, An AUDUSD play is an important setup as the DXY approaches 100.

- Deceleration on the Stochastic RSI over the past 3 months
- Stoch RSI indicating oversold (Converging)
- Retesting a 4 year downward sloping trend line.
-Forming the Right shoulder to the head & shoulder pattern.
-Retesting the horizontal S/R line at 0.7600

Suggest setting an entry below 0.7600 to stay safe