Buy on rebound from 0.8000 level with 0.8150 target. Stop loss = 0.7950.
Reason for the trading strategy
The prices of copper exported by Australia continue to grow, supporting the Aussie for the past 4 months. The recent decline of China's interest rate to 5.1% contributes to the growth in demand for commodity assets. With the AUD/USD pair lowering to the 0.8 level, opening long positions should be considered.
October 24, 2016 A volatile week ahead
Global stocks were resilient last week Friday with major arenas clawing back gains following the upbeat corporate earnings and stabilising oil prices which revived risk appetite...
October 24, 2016 Gold prices edged lower
Gold prices traded mixed on Friday. The yellow metal traded lower the half of the day and higher the other half. Sellers moved the price to the level 1260 dollar per ounce which appeared a solid barrier for it. The pair bounced from the level and reversed some of its losses...
October 24, 2016 Earnings and Macro data to drive financial markets the week ahead
A pretty robust U.S. corporate announcements last week indicated that thereâ€™s a high chance for corporate America to get out of a profit recession which lasted for five consecutive quarters...
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.