Sell AUDUSD rallies

May 20, 2014 by

It looks like AUDUSD is very heavy now and our outlook for the future with the dollar strengthening we decided to sell the rallies of AUDUSD. My first point of entry will be around the 0.93 level targeting about 0.90. Will place a stop loss above the recent highs of 0.93700. So we would be risking 170 points in order to pick up the initial 300. Don’t be too trigger happy to take your profits though (if it does go all the way down there obviously) and let it run, as if it also breaks 0.90 there is even more money to be had there.

Good luck.