reports
- Steve Lucas
AUDUSD - dip buying signalled to dominate investor sentiment
A long trend of higher weekly lows & highs has kept this week’s signals for the AUDUSD pointing higher, but with daily sentiment much overbought at over 2-year highs the call is a cautious one and is to buy dips. Monday’s trading saw sentiment trade sideways to higher, sentiment improving modestly. With no sign yet that demand is ending the outlook for Tuesday is to buy on the open and then at .8004, today’s opening trade in Asia with a stop loss at .7975. Targets are to .8044, today’s A...
- Steve Lucas
DAILY SPOT AUDUSD
​All of our Q3 targets have been met and Wednesday’s failed AUDUSD sell-off and a close above .8000 the Fig for the 1st time in over 2 years left yesterday’s signals pointing cautiously higher. Contrary to these, initial gains of almost ¾ Big Fig attracted sellers for sentiment to close with a modest down-day and back below the psychological .8000. Although this is negative, the last 2-day price action highlights investor indecision so signals are not strong. There is a cautiously bearish...
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