Normal technical analysis is not as effective in volatile markets, and with President Trumps tweets and outrageous calls, the global markets have been experiencing very volatile times. These are great times to play more defense and survive the markets. I hope to see things get back to order and markets trending like they used to, but there are no guarentees. This time will pass just like all other market bubbles and events in the past because the markets will always be there tomorrow and next year. My long term bias for AUDUSD is still bullish, but as of now I will remain short. Price has recently broke hourly support at 0.8900 a week ago ending the 2 day rally it had built up. Many should see a rejection off the most recent down-trendline on Friday, signaling another dip to come. My short target will be around 0.8810. If this trade gets stopped out due to underlying events then I will go long around 0.9020 for 100 pips to the next 4 hour resistance.
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AUDCAD* MY COMPUTER AUTO CORRECTED IT TO AUDUSD BY MISTAKE. AGAIN IT IS AUDCAD PAIR, NOT AUDUSD.
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Tradingview won't let me edit the idea after 15 minutes and I cannot delete this chart and start a new one nor change the heading. Mistakes happen, the technicals and everything else is still accurate.
