Potential AUDUSD long pt. 2: Will the Fed hike rates?
Updated
This time, we have confluence of multiple technical elements signaling AUDUSD might have established an important low.
The recent speech by Janet Yellen had a rather dovish tone, mentioning the Fed has patience and that they would discuss the interest rate hike on a 'meeting by meeting basis', which I think will introduce increased volatility in all USD pairs.
As long as there are no negative news for the Australian dollar, I think it is likely to see a correction take place, giving the short/intermediate term trader long opportunities.
Details in the chart.
The recent speech by Janet Yellen had a rather dovish tone, mentioning the Fed has patience and that they would discuss the interest rate hike on a 'meeting by meeting basis', which I think will introduce increased volatility in all USD pairs.
As long as there are no negative news for the Australian dollar, I think it is likely to see a correction take place, giving the short/intermediate term trader long opportunities.
Details in the chart.
Trade closed: stop reached
The forecast was very accurate though.
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