The AUD/USD pair initially fell during the day on Friday, but as you can see turned back around to form a nice-looking hammer. That hammer of course
The AUD/USD pair initially fell during the day on Friday, but as you can see turned back around to form a nice-looking hammer. That hammer of course signifies that we should go higher, but we also recognize that there is a lot of noise just above. With this, and the fact that the gold markets look a little bit tight, we feel there might be a short-term buying opportunity, but nothing more than that. We of course don’t want to sell into this hammer though either, because quite frankly it looks like there’s a lot of noise just below this region. In general, we prefer to stay on the sidelines.
AUD/USD Forecast August 31, 2015, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
