Commodity currencies got beat severely during the session on Tuesday and of course the Australian dollar was no different. However, we are still
Commodity currencies got beat severely during the session on Tuesday and of course the Australian dollar was no different. However, we are still consolidating as far as I can see so therefore I don’t have any interest in trading this market currently. I believe that a lot of back and forth trading is probably about to happen, so if you are a scalper this might be a nice opportunity, but beyond that I think it’s best to be on the sidelines until this market can make some type of impulsive candle for you to follow.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
