Will there be a year-end rally on AUDUSD?
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
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
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
DISCLAIMER
Our research materials are provided for information purposes only. They should not be used or considered as an offer to sell or a solicitation of an offer to buy any securities. The research materials are prepared for general circulation and general information only. They do not take into account the specific investment objectives, investment knowledge and experience and financial situation of any recipient. Investors seeking to buy or sell any securities discussed or recommended in our research materials, should seek independent financial advice relating thereto and make his/her own appraisal of the tax or other financial merits of the investment.
Any opinions expressed are subject to change without prior notice. Our research materials are based on information from various sources believed to be reliable. Although all reasonable care has been taken to ensure that such information is not misleading, we make no guarantee, representation or warranty, expressed or implied as to its accuracy, adequacy or completeness. We do not accept any liability whatsoever for any direct, indirect or incidental, special or consequential loss of any kind arising out of the use or reliance on the information in our research materials.
Trade active:
Target 1 has been achieved. Watching this pair closely to see if Target 2 (0.7810) will be achieved. Will update again.
Trade closed: target reached:
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.