Hello Traders, today AUD/USD is in the spotlight. Bollinger Bands® 1hr charts show a volatile environment, however, it does not seem to indicate a strong trend on extended time frames, FX Street experts suggest.
ADX below 30 tracks indicates a sideways price action. While trading experts validate this view, the 50-period simple moving average is caught somewhere between the 200 and the 800-period SMAs. Looking at the phenomenon from a macro perspective, the AUD/USD pair still seems to be ranging sideways.
Trading tips: Buy opportunities would be an excellent way to profit from this, by taking advantage of the price-oscillators divergence. Aim the 800-SMA! Consequently, the 50-SMA will drop below the 200 and the trend will be bearish.
All secrets unveiled, time is money! Start trading and remember, the sky is the limit!
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