AUDUSD Is Bearish! Sell!

Nov 4, 2023

Please, check our technical outlook for AUDUSD.

Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is on a crucial zone of supply 0.651.

The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 0.646 level.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.

Like and subscribe and comment my ideas if you enjoy them!

Dec 19, 2023

Trade closed: target reached

That was an excellent trade and the target was reached too!