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Lambert: The potential buy signal in AUDUSD
Clive Lambert from FuturesTechs believes that it has been a volatile first full week of trading in 2015. The sharp declines in the price of oil troubled investors at the start of the year, sparking a 90 point sell-off in the S&P 500. Trading sentiment quickly reversed as optimism for the United States economy grew, helping the S&P 500 recover its early losses in a 3 percent rally. With US non-farm payroll data due out at 1:30 pm GMT on Friday, investors are expecting to see further gains from the US economy. Current estimates hover around the 240K range. Other global markets have rallied off the back of US growth, such as Australia which saw a 0.5 percent gain in its S&P 500/ASX 200 index Thursday. Clive believes that there could be a potential buying opportunity in AUDUSD if prices reach USD 0.8160. He is targeting an initial move to USD 0.8280 and then somewhere in the USD 0.8350-70 range. A stop can be placed at USD 0.8110. Join theconversation below to be a part of the social trading experience. Non-independentinvestment research disclaimer
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