Weekly Forecast for AUD/USD | 8 - 13 December 2019 | SHORT TERM
Here we have missed the Entry at 0.67828 which we have promoted. Now the price is in a middle position and could go straight up to the upper band of the descending channel or come back to our promoted Entry point.
At the moment our position is neutral for the Australian Dollar US Dollar. We will start buying the AUDUSD at 0.68000. At this point, we will place a buy limit order with a stop loss at 0.67350
and our Take profit 1 we will move to 0.68911 and take profit 2 to 0.69568 and at last, take profit 3 to 0.70228.
For many months the AUD USD was in a downtrend but we think the Australian Dollar will have a comeback and has found the bottom of this downtrend.
When you look at the COT data you can see that the banks are closing their short positions and are opening a long position.
This will be a signal that they are changing their positions from short to long.
The COT data for the USD dollar pairs for the whole year 2019 you can find at
www.wave-revolution..../trading/cot-audusd/
LINK TO THE VIDEO: youtu.be/KgbHLYg-aKc
A mistake in the Video - The Sell Limit I mean is a Buy Limit !!!! SORRY !!
At the moment our position is neutral for the Australian Dollar US Dollar. We will start buying the AUDUSD at 0.68000. At this point, we will place a buy limit order with a stop loss at 0.67350
and our Take profit 1 we will move to 0.68911 and take profit 2 to 0.69568 and at last, take profit 3 to 0.70228.
For many months the AUD USD was in a downtrend but we think the Australian Dollar will have a comeback and has found the bottom of this downtrend.
When you look at the COT data you can see that the banks are closing their short positions and are opening a long position.
This will be a signal that they are changing their positions from short to long.
The COT data for the USD dollar pairs for the whole year 2019 you can find at
www.wave-revolution..../trading/cot-audusd/
LINK TO THE VIDEO: youtu.be/KgbHLYg-aKc
A mistake in the Video - The Sell Limit I mean is a Buy Limit !!!! SORRY !!