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.
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.
