US500: A further correction towards 5192 before resuming purchases.
Bearish Scenario: Sales below 5220... Bullish Scenario: Buys above 5225 (if price fails to break below decisively) ...
AUD/USD: a turning point
2020-06-08 • Updated
Long-term
The AUD/USD is trading below the tactical resistance of 0.7000. This level is not only a psychological level but also is the highest point since the very beginning of the year. Since March, the AUD/USD has been showing a strong bullish behavior due to the recovery in Australia underway and the current loss of safe-haven appetite among investors dropping the USD. The latest episode was more aggressive in the upward direction than anything we saw recently. So is the resistance of 0.7000 going to be broken?
Short-term
From a closer perspective, a bearish reversal is technically possible as bulls have definitely lost their momentum. If the support of 0.6960 is crossed downwards, and the price comes to 0.6870, then we are likely to see a further decline down to the very bottom of the general upward trend. Otherwise, breaking 0.7000 would mean some serious confidence of investors about the outlook in general and the AUD in particular.
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WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
