Sforex
Long

AUDUSD: RISK APPETITE drives Aussie higher ?

FX:AUDUSD   Australian Dollar/U.S. Dollar
197 0 4
AUDUSD: I enter a fresh LONG position of AUDUSD             at current price.

Take profit at 0.9390 and stop loss at 0.9310

Indeed, I open this trade totally base on : RISK APPETITE

I expect risk appetite will drive AUDUSD             higher to 0.94 level and because of lacking US economic data + profit taking, traders will choose AUD to buy.

Technical Analysis:
- I see two patterns I show on the chart:

+ Double Bottom pattern.
+ Head and Shoulder pattern.

No matter what you choose what pattern, the price also broke the neckline in both pattern, and this is the BUY signal.

Thus, I decide to take risk. BUY AUDUSD             to 0.9390.
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