INSTITUTIONAL TRADE: Short AUDUSD - MUFG

4/19/2020 08:01:00 PM
MUFG has gone short AUDUSD

Details: 
Entry: 0.6355
Target: 0.6100
Stop Loss: 0.6550

Reason:
We see that for a short-term dollar return based on the level of optimism by the outlook for a faster recovery from the COVID-19 epidemic.

In G10 Space, AUDUSD was the top performing currency over a two-week period and it was gained over 6%. AUD bottom of 0.6000 level looking pretty strong and at these level the upside look limited.

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Technically we see that it's playing a cycle and completed AB = CD pattern. Completed AB pattern in 11 days with 44 Bars and CD pattern happened same cycle. Below of 0.6250 Sell it's looking Safe.
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