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Saturday, June 17, 2017

Aud/Usd: It's Time to Retrace?

It has been a long time for this currency pair to follow its bullish trend. However, there is a chance for the pair to retrace on Monday (19 June '17), 
Price most probably will try to enter the yellow zone as shown in the following illustration.



There will be an opportunity to open short position and to take profit at around 0.75917.



It is recommended to monitor its retracement using parabolic SAR in order to get an idea whether it is still strong enough for the pair to retrace. Once Parabolic SAR switched side, it is recommended to exit the market at once and Wait and See...