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AUD/USD Signal - Commodities prices stabilization - 25 Aug 2016

Signal details
Entry Price: 
0.7640
Close Price: 
No trade
Direction: 
High
Expiry Time: 
20:00 GMT
How we trade
5/5 of 3 ratings

Since Tuesday the AUD/USD has been exploring the 0.7600 zone. The move lower was in tandem with other commodity currencies weakening as oil and precious metals' prices have traded lower. Still we expect a stabilization of this decline today and probably in the Australian dollar as well.

Considering the information above and the technical factors in play we are setting a target price in the 0.7640 area. If the price breaks above that level we would be buying daily calls heading into the 20:00 GMT expiration. Overall the technical picture depends on whether the price manages to stabilize above 0.7620 in the coming hours.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.