AUDUSD – TKx Signal Plays Out Well
As we blogged about last week on Oct. 18th, the AUDUSD formed a nice upward TKx signal which cued traders of another run to the upside. This is exactly as it has played out as the TKx Signal formed at 1.0289 and here we are over 170pips higher busting through the previous swing highs at 1.0370. The pair also formed a perfect breakout-retest of the aforementioned highs giving traders a nice confirmation signal of the breakout.
The big figure above at 1.0500 has rejected price in the short term but the Tenkan is tracking higher fast along with the Kijun. This is communicating momentum and the trend should continue along with the weak …... Keep reading