AUDUSD Analysis
Aug 27, 2023 at 04:32
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Aug 27, 2023 at 04:32
Retail is buying this currency pair. Since most retail traders loose money I am going against that and selling this pair. Cot Data is saying AUD=65%Sell & USD=55%Buy. So my retail sentiment is Supporting the AUD Sell Bias.
4hr chart is definately over extended with the Orange 20 SMA, and the Blue 50 SMA, having a huge gap between them and the 200 purple SMA. 1hr chart has already touched its 200 purple SMA and rejected. Now I am simply waiting on the 4 hour to touch its 200 purple SMA and reject.
Entry=0.65944
Limit=0.61426
Stop=0.66478
.PNG)
4hr chart is definately over extended with the Orange 20 SMA, and the Blue 50 SMA, having a huge gap between them and the 200 purple SMA. 1hr chart has already touched its 200 purple SMA and rejected. Now I am simply waiting on the 4 hour to touch its 200 purple SMA and reject.
Entry=0.65944
Limit=0.61426
Stop=0.66478
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