AUD/USD - Week 1 - Price pullback on the radar

2021年1月4日

Last week the Australian Dollar ended the year on a high against the US Dollar. Our prediction still stands for a bearish corrective move, but no confirmation yet. We are in the middle of an uptrend channel, but until we get a strong candle close underneath it, we will approach it cautiously. Firstly, the price has to fall in the medium-term before it resumes its big Weekly bullish trend, and that is why for the time being we recommend to be patient.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.