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FX.co ★ Tips for trading AUD/USD

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Forex Analysis:::2023-08-02T06:54:04

Tips for trading AUD/USD

Tips for trading AUD/USD

AUD/USD, following a prolonged decline, rose in price and surpassed the level of 0.66. This opens the opportunity for long positions in the market.

Tips for trading AUD/USD

Two things could be done in this situation:

1. Set off a false breakdown around 0.66, and then open long positions at 0.69 with a short stop. A

2. Open long positions with stop-loss set at the breakdown of 0.64600.

These plans came from the framework of the Price Action and Stop Hunting strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.

Analyst InstaForex
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