AUD/USD Forecast October 3, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 01 October 2016 06:28 UTC
The AUD/USD pair initially fell on Friday, but turned around to form a hammer like candle. This is a market that continues to bounce around in this general vicinity, and therefore I’m not exactly excited about trading this market right now and will simply sit on the sidelines. I think that the 0.7750 level above is massively resistive, while the 0.76 level below is massively supportive. With this, I will remain on the sidelines and stay away from the Australian dollar in the meantime. As soon as we get some type of impulsive candle in one direction or another I would be more than willing to trade but until then there are easier ways to make money in the Forex markets.

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.