Aussie Dollar Index (Full Break Down)Hi Traders,
Please see our break down of the Aussie Dollar Index which has provided some good opportunities in the market.
I wouldn't sit and lie and say I identified all of these at the time but it is key to go back and train yourself to spot these individual events taking place in the future.
We have price currently testing a major support area where we have respected and started a new bullish wave from here on 3 previous occasions.
My immediate bias is off course that support will hold however as we know that is not a definite.
Therefore as we should always be, we will be reactive and not predictive.
We will continue waiting for the signs that price is again respecting this area and we will capatalise on it using lower time frames such as the 4hr and 1hr.
Whats your thoughts ? Do you see this currency breaking through aggressively or retreating like it has in the past?
Let me know in the comments below and if you are enjoying this kind of content let me know and off course hit that follower button and give me the thumbs up!!
The Fx Chartist
