The Australian Dollar has taken a heavy beating over recent weeks but the case for a corrective upswing appears to be building. Speculative net-short positioning in the futures market is stabilizing after hitting a record high and traders are already pricing in 70% probability of another RBA rate cut in August, hinting a correction driven by profit-taking may be on the horizon as the bears run short on news-flow to perpetuate the selloff. I will look to enter short following a bounce pending technical confirmation of ebbing bullish momentum.
Waiting for AUD/USD Bounce to Enter Short
- Sep, 18 13:00 GMTShort Euro, Aussie and Swiss Franc Trades in Play
- Sep, 17 13:00 GMTHolding Long US Dollar vs. Aussie, Euro and Franc Into FOMC
- Sep, 16 13:00 GMTLong US Dollar Trades vs. Aussie, Euro and Franc Still in Play
- Sep, 15 13:00 GMTHolding Long US Dollar vs. Euro, Franc, Aussie
- Sep, 12 12:30 GMTBreakdown In AUD/USD To Stall?
- Jul, 10 12:30 GMTForex Strategy 07.10.2013: Looking for AUD/USD Short Trade Setup
- Jul, 09 12:30 GMTForex Strategy 07.09.2013: Looking for AUD/USD Short Trade Setup
- Jul, 08 12:30 GMTForex Strategy: Looking for AUD/USD Short Trade Setup
- Jul, 02 12:30 GMTForex Strategy: AUD/USD Bounce May Yield Short Setup
- Jun, 27 12:30 GMTForex Strategy 06.27.13: Holding Short EUR/JPY Position