The AUD/USD pair had a wildly bullish week as traders bought this pair in droves. The “risk on” trade was in vogue this previous week, producing a
The AUD/USD pair had a wildly bullish week as traders bought this pair in droves. The “risk on” trade was in vogue this previous week, producing a parabolic move. The move is strong, and should be considered an opportunity to see what the market thinks. The pair looks set to rise over the long-term, but a pullback during the next week is in the cards, so it looks like buying on a pullback could help. Of course, if there is bad news out of the EU over the next few days, this pair will suffer. All things being equal, we like buying on the dips.
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.
