Will there be a year-end rally on AUDUSD?

업데이트됨

While lots of investors and traders focus on the recent price movement on BTCUSD and ETHUSD, and potentially other cryptocurrencies, we should not forget a potential pattern called year-end rally on AUDUSD. Of course, it does not work every year but historically, this pair has a year-end bullish directional bias.

You can see that AUDUSD made a recent low at 0.7501 on 8 December 2017 and in less than 2 weeks, this pair has quietly made a 200 pip move, closing at 0.7714 on 22 December 2017. Investors like you may be wondering this pair's movement in the following week and whether the year-end rally pattern would push this pair to the upside further.

Based on our forecast, we are watching the price action between 0.7730 and 0.7750 closely to see if there is any reversal of the near-term bullish trend. If the 0.7750 level were to be taken out, then we could potentially see AUDUSD test 0.7810, followed by 0.7898 which was the recent high on 13 October 2017. On the other hand, if the year-end rally pattern is not sustainable, we could potentially see AUDUSD fall back to 0.7600-0.7600 level.

Good trading
NinjaSingapore
23 December 2017

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액티브 트레이드

Target 1 has been achieved. Watching this pair closely to see if Target 2 (0.7810) will be achieved. Will update again.

거래청산: 타겟 닿음

We would regard target 2 as achieved based on the intraday high of 0.78096 (which is less than 0.4 pips to our target of 0.7810). This case study is now closed and we will watch for next opportunity on this pair.