The AUD/USD pair fell during the course of the day on Thursday, but found enough support to turn things back around and form a hammer. Because of this, we
The AUD/USD pair fell during the course of the day on Thursday, but found enough support to turn things back around and form a hammer. Because of this, we feel that this market is more or less a market that is trying to form some type of base in this area although we feel that the market is still most certainly bearish overall. With that, we are very hesitant to get involved, and are looking for more clear-cut signals. Right now, we don’t have that though so we have to sit on the sidelines and protector trading capital.
AUD/USD Forecast October 17, 2014, Technical Analysis
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.
