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Trading Outlook – AUD/USD

Posted On 03 Dec 2014
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Originally updated: 06:45am

Currency Pair: AUD/USD

Sentiment: Bearish

Market focus:

In today’s trade set up we will be focussing on short term selling opportunities on the AUD/USD.

Fundamentals:

Our focus turns to the AUD once again after having a difficult week with unclear sentiment and volatile price action. The Australian GDP number came in over night at worse than expected leading to heavy selling by macro funds and triggering calls for the RBA to cut rates with the market pricing in a 25bps cut within the next year.

Technicals:

I expect this pair to continue its down move during the session and eventually hit 0.8300. If the market does retrace back up then there is a nice confluence zone of resistance that traders could use as a reference to sell from again.

The confluence zone is at 0.8450-0.8460

Stop loss could be placed at 0.8505

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Source:: Trading Outlook – AUD/USD

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"]www.facebook.com/JarrattDavisForex/[/social] [social type="twitter"]https://twitter.com/jarrattdavis[/social] [social type="google-plus"]https://plus.google.com/+JarrattdavisForexTrader/[/social] [social type="youtube"]https://www.youtube.com/user/JarrattDavisForex[/social]

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