The AUD/USD pair has tried it again and again to break above the 0.95 handle, and I think that is what is going to be crucial for the upcoming month. If we can get above there, as he the reason to think that this market will head to the 0.97 level. However, with the way that we’ve struggled in this area, it would not surprise me at all to see a bit of consolidation over the next month, or perhaps even the next several months. Right now, I see this market is essentially “landlocked” between the 0.92 level, and the 0.95 level. Because of that, I feel that the market will be one that more in tune with short term trading than anything else, meaning that longer-term charts will probably become almost useless until we break above the 0.95 handle.

That being said, I believe that this market could be quite profitable.

I will be looking towards the short-term charts in order to find my way in this market. After all, when you look at the last seven or eight weeks, we’ve essentially been bouncing around between the 0.93 and the 0.9450 levels. Because of that, it’s an even easier short-term traders market, but be aware of the fact that this market isn’t truly broken down into we get below the 0.92 level. Because of that, I’m not going to short this market based upon a short-term break down below the 0.93 handle. I think it would simply bring in more buying pressure given enough time.

If we did break down below the 0.92 level, which I think is very unlikely, this market would then head to the 0.90 handle, an area that has quite a bit of support at it. Nonetheless, I feel that this is going to be a sideways mode, and the fact that it is the month where most of the large fund traders are we a holiday probably adds more credence to that idea. Expecting a big move in the month of August is asking a lot of the market some years, and the way the July may had been, and to a lesser extent June, I don’t think are going to see it this year either.

AUDUSD 73114

Related Articles
  1. Retirement

    How Much Money Do You Need to Retire at 56?

    Who wouldn't want to retire early and enjoy the good life? The question is, "How much will it cost?" Here's a quick and dirty way to get an answer.
  2. Retirement

    The Best Strategies to Maximize Your Roth IRA

    If a Roth IRA makes sense for you, here are ways to build the biggest nest egg possible with it.
  3. Investing

    In Search of the Rate-Proof Portfolio

    After October’s better-than-expected employment report, a December Federal Reserve (Fed) liftoff is looking more likely than it was earlier this fall.
  4. Personal Finance

    Is An Ivy League Degree Worth It?

    In 600 B.C. Aesop determined that a bird in the hand was worth two in the bush. Warren Buffett claims that this axiom can be used to determine the most valuable uses of capital. In this article ...
  5. Investing

    Time to Bring Active Back into a Portfolio?

    While stocks have rallied since the economic recovery in 2009, many active portfolio managers have struggled to deliver investor returns in excess.
  6. Chart Advisor

    ChartAdvisor for November 27 2015

    Weekly technical summary of the major U.S. indexes.
  7. Retirement

    Suddenly Pushed into Retirement, How to Handle the Transition

    Adjusting to retirement can be challenging, but when it happens unexpectedly it can be downright difficult. Thankfully there are ways to successfully transition.
  8. Mutual Funds & ETFs

    The Democratization of the Hedge Fund Industry

    The coveted compensations of hedge fund managers are protected by barriers of entry to the industry, but one recent startup is working to break those barriers.
  9. Investing

    What a Family Tradition Taught Me About Investing

    We share some lessons from friends and family on saving money and planning for retirement.
  10. Retirement

    Two Heads Are Better Than One With Your Finances

    We discuss the advantages of seeking professional help when it comes to managing our retirement account.
  1. Are secured personal loans better than unsecured loans?

    Secured loans are better for the borrower than unsecured loans because the loan terms are more agreeable. Often, the interest ... Read Full Answer >>
  2. Is Israel a developed country?

    Israel is considered a developed country, although it has substantial poverty and large income gaps. The International Monetary ... Read Full Answer >>
  3. Can personal loans be included in bankruptcy?

    Personal loans from friends, family and employers fall under common categories of debt that can be discharged in the case ... Read Full Answer >>
  4. How many free credit reports can you get per year?

    Individuals with valid Social Security numbers are permitted to receive up to three credit reports every 12 months rather ... Read Full Answer >>
  5. Is the Wall Street Journal considered to be a conservative publisher?

    The Wall Street Journal is controlled by Rupert Murdoch via Dow Jones Publications, which in turn is owned by Murdoch's News ... Read Full Answer >>
  6. Is Spain a developed country?

    Spain is a developed country. Nearly all organizations that analyze development status classify it as such. Spain has a strong ... Read Full Answer >>

You May Also Like

Trading Center