Trade set up: We have seen a ‘shooting star’ candle printed on Friday’s daily chart, depicting a potential short-term bearish move in the pair. However, buying the AUDUSD after a retracement into 0.7165 is still our preferred strategy. Given the importance of a three standard deviation move on Friday, our bullish trade is still in play ahead of US Midterm...
Trade Set up – Given the underlying trend, and at this very juncture, we feel it is hard to be short the USD. That said, with traders likely to defend the YTD high at 96.98, we feel waiting for a daily close through this resistance level makes sense as it would be sending a fairly powerful signal that the bullish trend is set to continue.
On this development we...
