The AUD/USD currency pair is on the monthly time frame in a down trend. A down trend that has started since August 2011, that is thirteen years of bearish market. As far as Technical Analysis is concerned, every trader is expected to be a friend of the trend and not an enemy. So the best opportunity one should be looking for is a sell. But when is the right time to take this sell?
On a weekly Time Frame three is no much difference between it and the monthly. It completely agrees with the monthly Time Frame. So we still have our question unanswered. When is the right time to sell at this juncture.
On a daily Time Frame which is expected to give us a clearer view of the currency movement. We can see that there is a consolidation of the currency pairs between 0.68900 to the upside and 0,62805 region to the downside.
On a four Hour Time Frame we can see that the currency pair is not being directional. We are seeing another different consolidation which is different from the daily.
At this juncture it is very risky to enter in a buy or a sell of the AUD/USD currency pair. The best advice is to stay clear the pairs except on wants to scalp using the 1 hour or 30 minutes time frame.
As for me I will stay off the pairs for now. Fold my hands and play toy soldier by #Eminem
This is not a financial advice but just my personal analysis on the AUD/USD currency pair.
Only trade with the money you can afford to lose
