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AUD/USD Signal - Donald Trump Worries USD Holders - Nov 03 2016

Signal details
Entry Price: 
0.7685
Close Price: 
0.7675
Direction: 
High
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
5/5 of 3 ratings

In the past five days, the AUD/USD pair has been consolidating as we can notice from the consolidation pattern that was repeatedly tested since between 14th till the 19th of October. The prospects for the pair going higher in the near feature have been subdued due to recent broad based US dollar weakness that was counteracted by declining risk assets such as commodities.

Looking at the more techical side we can notice that today the AUD/USD pair is tentatively rallying and it could be able to break above the 0.7685 level before the end of the day. Having all of the afore-mentioned in mind we could conclude that an appropriate target price would be the level of 0.7685 at which we would be buying daily calls heading into the 21:00 GMT expiration.

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.