The AUD/USD pair fell during the week initially, but then bounced during the Janet Yellen speech on Friday. Ultimately, this is a market that ended up forming a hammer, which is preceded by two other hammers. I believe this is a very bullish sign, and that the market will continue to try to reach above the 0.80 level. However, until we close above it on a weekly chart, I’m not interested in putting a longer-term “buy-and-hold” trade. I think pullbacks will continue to be buying opportunities, but on short-term charts.
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AUD/USD forecast for the week of August 28, 2017, Technical Analysis
The AUD/USD pair fell during the week initially, but then bounced during the Janet Yellen speech on Friday. Ultimately, this is a market that ended up
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About the Author
Christopher LewisSenior Analyst
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.
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