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Screenshot of a breaking news alert e-mail from Q2 2017
AUD/USD Aussie/Dollar Approaching Buy Zone at 0.7500
The AUDUSD underwent an aggressive rally from March 10th to March 20th after bouncing from support near 0.7500, following our views of looking to buy near that support back on February 20th. Price is now beginning to pull back slightly once again, and we are once again watching support near 0.7500 and up to 0.7550 as a potential buy zone. If price enters that zone, traders can look for price action buy signals to get long (buy) from there, or they can simply enter on a ‘blind’ entry (which is entering without a price action signal as confirmation), in order to trade in-line with the overall uptrend in this pair.
GOLD Bulls Maintain Control Whilst $1200 USD/Oz Support Holds
Gold has moved significantly higher after bouncing at $1200.00 key support; a level we had been discussing as a potential buy level in our February 14th commentary. Currently, we are still looking to be buyers on a rotation lower, and we are still watching that key $1200.00 level, up to $1220.00 for buying opportunities. Traders can watch for price action signals at or near that zone to be a buyer or look to enter at that zone on a blind entry (entering without a price action signal) in order to trade in-line with the uptrend.
This article was written by Nial Fuller. Nial is a highly regarded professional trader and author. He is the founder and CEO of Learn To Trade The Market, the world’s foremost trading education resource.