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AUD/USD Call Signal 26 Oct 2015

Signal details
Entry Price: 
0.7255
Close Price: 
0.7245
Expiry Time: 
21:00 GMT
Result: 
OTM
How we trade
5/5 of 3 ratings

The Australian dollar has been trading moderately higher against its U.S. counterpart this Monday. The AUD/USD pair has traded between 0.7200 and 0.7270 in today's market. Looking at the imminent prospects for the positions on this market, the likelihood that the Aussie can rally have increased somewhat.

The main reason is much weaker than expected new home sales data from the U.S. which is looked upon is leading data in terms of the housing market. If even record low interest rates can not boost the dwindling homes market in the country, then the likelihood of another downturn is higher than most expect.

We are looking to buy daily calls on the AUD/USD pair around 0.7255 as China stabilizes, impacting positively the Aussie.

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.