Giving AUD/USD A Try Before The U.S. Employment Data Gets Published - Forex News by FX Leaders

Giving AUD/USD A Try Before The U.S. Employment Data Gets Published

Posted Friday, July 7, 2017 by
Skerdian Meta • 1 min read

A while ago we opened a sell forex signal on the AUD/USD. We already had a live signal on the NZD/USD but the opportunity that appeared on the AUD/USD was too good to let it go.

Firstly, this forex pair has been in a constant downtrend the entire week. Basically, if we leave the USD/JPY aside, the Aussie has been the weakest currency so far today.

Secondly, the AUD/USD was oversold on the hourly forex chart, which means that the retrace higher was over. By the way, this was the biggest pullback this week.

Thirdly, a number of moving averages were situated right where we opened that signal. They were supposed to provide resistance but the price has crawled 10-15 pips higher now.

Well, the 100-SMA on the H4 chart is providing resistance now, so technically we’re still in play. But, the U.S. employment and earnings (wages) numbers will be released soon, so let’s hope they go in our direction. After all, the U.S. data during this week has been pretty upbeat.

New Instruments in Our Forex Signals Service

We’ve recently incorporated some exciting new financial instruments into our trading signals service -gold and crude oil. We will add more instruments soon, such as cryptocurrencies, so keep an eye out for analysis on these new instruments.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of