The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.
AUD/USD: Aussie is going for a break
2019-11-11 • Updated
BUY 0.7695 SL 0.764 TP 0.7805
SELL 0.762 SL 0.7675 TP 0.75
On the daily chart, AUD/USD keeps consolidating within 0.7620-0.7735. A break of its upper border will open the way up to 0.7805-0.7820, 0.7860 and higher. On the other hand, successful test of support at 0.7620 will increase the odds of 113% target of the “Shark” pattern.
On H1, AUD/USD keeps forming “Wolfe waves” pattern. Aggressive entry implies long positions on the break of resistance at 0.7695. According to a conservative approach, one should wait for a test of diagonal resistance and (or) formation of the point 5 of the pattern “Widening wedge”.
The odds of a final interest rate hike by the US Federal Reserve (Fed) this year have dropped after US job openings hit their lowest levels since early 2021. This has led to a correction in the US Dollar as traders reduced their bets on further rate hikes.
Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination.
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