AUDUSD | New perspective
Updated
The U.S. dollar appears to be handing back some of its gains as buying traction was predominant during the course of last week's trading session.
It is also worth noting here that the Dollar Index, which tracks the Greenback against a basket of major currencies fell by 0.1% to suggest the possibility of a retracement in the nearest future. Will the breakout of the $0.66300 turn out to be bullish for the new week?
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
It is also worth noting here that the Dollar Index, which tracks the Greenback against a basket of major currencies fell by 0.1% to suggest the possibility of a retracement in the nearest future. Will the breakout of the $0.66300 turn out to be bullish for the new week?
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
Still monitoring price action as the week started on a bearish toneGood morning
Trade active
UPDATEBuying pressure above neckline
Good morning
Trade active
Buying pressure persistTrade active
UPDATE 70 pips in profit; securing position
Trade active
UPDATEPrice action presents another opportunity to add a position to the existing trade
Good morning
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Price continue to move as projected. Breakout/retest of the $0.64900 welcomes another opportunity to add one more position.Trade active
Move stop-loss accordingly to protect the current position against sudden reversal as we begin to notice buying traction for the US Dollar.Trade active
Update coming soonGood morning
Trade active
Update coming soonGood morning
Trade closed: stop reached
Stop loss hit on the third position and above the $0.64900 level is looking promising to buy the Aussie.Trade active
Stopped out with a total of 100pips profit as price action is caught within a channel 0.64900 and 0.64400. From here, we need to remain patient for signals in the form of a breakout or breakdown of this channel to join the potential rally or decline.Good morning
Trade active
UPDATEWe have a signal
Trade active
Securing the current position as we continue to monitor price actionTrade active
40pips in profit, secure positionTrade active
UPDATETrade active
Time to add position below the 0.64000 levelTrade active
UPDATESellers struggle as participants in the market anticipate the RBA interest decision and a handful of high-impact events coming up in a couple of days (screenshot on the chart). Selling pressure below the 0.64000 level still remains a positive sign for us.
Trade active
Are we ready for the second wave of the bullish momentum that started last week? Following the reversal pattern, the breakout/retest of the $0.64250 level looks promising to buy the Aussie.Happy New Month!
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