Short-term Trading Idea FX AUD/USD – Bull Speculation: Double Bottom Receives its Confirmation

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Trading opportunities for currency pair: A double bottom has come off and was confirmed on Friday when the quotes headed above 0.7390. Due to a restoral of the oil price to $38.92, the AUD/USD has risen to 0.7435. Growth of Brent to $40.50 will see the AUD/USD lift to 0.7560 (by 20th March), if it hits 42.50 then the rate will rise to 0.7670 (by 10th April). Any strengthening of the Aussie will be cancelled out with a close of the daily candle below 0.7230. Background The last Aussie dollar

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