Hello Traders,
Is it just me or is the market darn right choppy?
Well, in such cases, you either stay off the market or reduce your risk level. In my opinion, it’s not worth all the headaches we are currently seeing in the market.
That said, let’s see what I am currently trailing…
1. AUD/USD
Since Sunday, AUD/USD has been locked within a consolidation band.
Nobody can say for how long this back and forth movement will last, however, if the bulls manage to force price out through resistance level 0.69334, we may most likely see price on a bullish run to the next possible resistance level (0.69649).
If the bears dominate price, and they succeed in breaking support level 0.69130 we may most likely see price ricochet between the descending trendline and support level 0.69130 which will then become a resistance.
I wish everyone a pip-full month ahead.
