2019-11-11 • Updated
Recommendation:
BUY 0.7640
SL 0.7585
TP1 0.7750 TP2 0.7895
On the daily chart, AUD/USD keeps fighting for the lower border of a long-term uptrend channel. If bulls fail to hold it, the risks of realization of 88.6% target of the senior “Shark” pattern will increase. On the other hand, a break of resistance at 0.7637-0.7640 will trigger the junior “Shark”.
On H1, AUD/USD after reaching 78.6% target of a “Shark” pulled back to 88.6%. The second attack of resistance at 0.7635 in case of success will allow bulls to count on the continuation of the rally.
The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...
The New Zealand Dollar (NZD) is under pressure due to concerns about the country's economic growth, exacerbated by bearish technical indicators and the US Dollar's strength. Recent data showing negative growth in New Zealand, with GDP contracting by 0.1% in Q4 2024, suggests a recession. Despite this, the Reserve Bank of New Zealand (RBNZ) has not ...
Following yesterday's dovish Fed announcement, market expectations for a full 25 basis point hike from the Fed's yearly outlook were scaled back, causing the dollar to weaken. Consequently, EUR/USD saw gains as the dollar depreciated, testing resistance levels around 1.0942 and 1.0960, which correspond to Fibonacci retracements of previous...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
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.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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