Good day forex traders.
In the previous AUD/USD forecast review, we noted that a small bullish momentum is underway despite a previous failure to test the possible target region of 1.0260. Equity indexes were green during that time due probably to a better than expected data of the US jobless claims.
Looking at the AUD/USD 4H chart above, we can see that the trendline still continues to hold. This calls for a I LOVE IT WHEN MY CHART works proclamation 😛
Having said so, i want to remind everyone that if you notice, volume seems to be low. Indeed so since we are nearing the Christmas holidays. As readers of my humble site know, i always mentioned that when volume is low, we may experience unexpected spikes and momentum.
Therefore it may be wise that you only trade when you see a very good opportunity and of course with proper money management. Sometimes being on the sidelines is also a good position to take!
Merry Christmas and trade safely.