A clean break below 1.4450 would open the way up for a deeper retracement towards 1.4200 (see chart).
I feel August is thoughest month to trade, no key theme and more positions adjustment.
Pretty true Mike, but if you know which way mkt is positioned, simply trade against them imho
but of course you still need to be ultra patient and pick the correct levels
Thanks for your insight, as always.
For mine – I would be interested if this AUDUSD play today by HF’s was part of a EURAUD trade …. the cross does look suspect for a move lower and the best way to get a large side of the cross is using Sydney liquidity for the AUD leg – still the overall shorts in AUDUSD do not look like panicking given the failure to go on with it today at .9230
That sounds logical Expat, and agree also that selling in AUD/USD at certain levels remains very solid indeed. I’m long still but I’m being very careful with my entry and am booking P on rallies as well. Can’t see it racing anywhere pre-election
Oops … that was a bad thought 🙂
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