FX CHART OF THE DAY: AUDUSD LATERAL TRADING
AUDUSD is trading at weekly (120-h) mean with no apparent slope. At the same time, volatility (measured by 3.2 standard deviations from the mean) is also flat and is likely to compress soon.
Price is likely to trade in a lateral fashion for some time - within the 1st standard deviation from weekly mean.
Traders can pick trades both sides within the lateral range - at its borders (1st st deviations from weekly mean), targeting the mean. Stops should be placed slightly beyond relevant highs/lows.
Traders should also mind US Calendar news at 13:15 GMT, which can trigger some volatility on the pair.
Price is likely to trade in a lateral fashion for some time - within the 1st standard deviation from weekly mean.
Traders can pick trades both sides within the lateral range - at its borders (1st st deviations from weekly mean), targeting the mean. Stops should be placed slightly beyond relevant highs/lows.
Traders should also mind US Calendar news at 13:15 GMT, which can trigger some volatility on the pair.