As the Dollar extends its climb against all major currencies, the AUD is one of the few that managed to hold its own having lost some 8% YTD. This compares favorably with other majors like GBP, EUR and JPY. The JPY, for example, have fallen 25% against the Dollar, YTD.
This week's major event will be the FOMC on Thursday morning at 02:00am. It is when the Fed may hike rates by another 75 basis points. Until then, it is likely most markets may consolidate and maybe even retrace some of last week's moves. It is with this in mind that a speculative counter-trend trade opportunity may present itself.
Bought 0.75 lot @ 0.66839 (Sept 19. 19:57:56pm)
Bought 0.91 lot @ 0.66762 (Sept 19, 20:57:25pm)
All Stops @ 0.66500. Moved Stops to 0.66860 (Sept 20, 01:12am)
All Targets @ 0.67900