Afternoon traders,
Looking at Aussie dollar taking advantage of the golden week Japanese holiday and its bounce back from oversold status against US dollar. The pair is trading at 100 day moving average (78.85) having found support around low 78 area and the formation of two bullish candles on the 4 hourly highlighted in our trading view chart.
This isn't the highest of conviction trades and is less technical driven than previous trades but we are looking at price action and looking for a move back into the 79.5-80 trading range after a period of consolidation around 79.2 as highlighted in our chart.
As always this is not a trade recommendation and simply technical observation.
Good luck trading
from the Team at forexTrdr
find us on instagram, twitter and Alexa flash briefings
Looking at Aussie dollar taking advantage of the golden week Japanese holiday and its bounce back from oversold status against US dollar. The pair is trading at 100 day moving average (78.85) having found support around low 78 area and the formation of two bullish candles on the 4 hourly highlighted in our trading view chart.
This isn't the highest of conviction trades and is less technical driven than previous trades but we are looking at price action and looking for a move back into the 79.5-80 trading range after a period of consolidation around 79.2 as highlighted in our chart.
As always this is not a trade recommendation and simply technical observation.
Good luck trading
from the Team at forexTrdr
find us on instagram, twitter and Alexa flash briefings