Trading foreign exchange and or other financial instruments on margin carries a high level of risk, and may not be suitable for all investors. Theres a possible entry which is marked on the chart. After weakening in its final moments of , the Australian Dollar may be getting ready to reverse course. A demo account is intended to familiarize you with the tools and features of our trading platforms and to facilitate the testing of trading strategies in a risk-free environment.
Related analysis AUD/USD
Got in the breakout of the local consolidation towards the short term down-trend. Im looking for shorts as price managed to make a HL. Im currently waiting for LH to start to see a change of trend. If price fails to keep pushing up and print out a HH we can safely go down.
Theres a possible entry which is marked on the chart. Breakout of the consolidation against the local trend. Australia is a big exporter to China and its economy and currency reflect any change in the situation in that country. The prevailing view is that the Australian Dollar offers diversification benefits in a portfolio containing the major world currencies because of its greater exposure to Asian economies.
This correlation with the Shanghai stock exchange is to be added to the correlation it has with gold. In the financial world, gold is viewed as a safe haven against inflation and it is one of the most traded commodities.
Australia's dependency on commodity mineral and farm exports has seen the Australian Dollar rally during global expansion periods and fall when mineral prices slumped, as commodities now account for most of its total exports. The AUD is under a free floating regime since Before that it was pegged to a group of currencies called the trade weighted index TWI.
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