AUDUSD, more than 500 pips to go

What do you think about the AUDUSD? I’d say it is clearly bearish, without a doubt.

As soon as I get my signal I’m going to short it.

Here is the daily chart:

See where the next LT support level is at?

It is more than 500 pips away from where it is currently trading at.

This leads to the question: Where would you set your take profit order at?

Let me know what you think.

Cheers,

Raul Lopez
Forex Coaching