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AUD/USD 60 Minute Analysis
Hello traders good to be back another trading day I have to say the moves on most of the pairs I look at started two hours before the London Open and I was not at my charts I came back and was hard to find a good trade set up. The AUDUSD is a bearish pair and we will talk about this trade, as you can see for the past 4 hours we have had indecision candles and looks like the bulls are getting weak and this wants to come back down. I think this trade will work close to the NY session. I have placed a trend line on the chart and need price to close below that. The entry looks good at 0.7640 and we would look for the take profit zone at about 0.7605. I placed the stop at 0.7680 and I think that is a big stop at entry I would do another analysis of the trade and try to get this to bring the stop down. I like that the lower Bollinger Band is open that gives me confidence in the trade.I know you can say the upper Bollinger Band is open also and you are correct. This is not an easy trade I have to say however this is the only set up I see at this time 3 hours before the NY open. Talk Soon….. William
Source: http://www.fxinstructor.com/blog/audusd-60-minute-analysis
