Hey, how is your trading going so far this week?

Yesterday I talked about the AUDUSD, it was trading in a short term range. But guess what? Earlier this morning it broke through the bottom of the range:

What does this mean?

That the market is likely to continue its way down until it reaches its next LT support level.

So as long as it trades below green level at 1.0625 I’ll be looking for short opportunities.

What is interesting about the AUDUSD is that the next LT support level is at 0.9706. Enough pips don’t you think?

Trade safe!

Raul Lopez
Forex Coaching