AUDUSD – Still trading around historical highs

Last time I wrote about the AUDUSD trading at historical highs I got a few emails asking me why would I look for long opportunities there if the market is likely to retrace.

There is a simple answer to that questions, if the market is going up, its easier for me to look for long opportunities, bulls are winning the battle after all and upward moves are more likely. I’ll stop looking for long opportunities when the AUDUSD tells me that it doesn’t have enough steam anymore, only then I’ll stop looking for long opportunities, for now, I still think the Australian Dollar has more room left:

I’ll be looking for long opportunities around the green lines, which are ST S&R levels (both, retracement and breakout signals are in play).

Trade Safe!

Raul Lopez
Forex Training

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Raul Lopez

I’ve been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .