2019-11-11 • Updated
Recommendation: BUY 0.7275 SL 0.7220 TP1 0.7375 TP2 0.7435 TP3 0.757
On a daily chart of AUD/USD, there is a consolidation due to the transformation of the “Shark” pattern into 5-0. Sellers need to pull the pair below the support at 0.7195 to continue correction to the CD wave. On the other hand, buyers plan to bring the pair within borders of the upward channel and break the resistance at 0.7270.
On H1, if the pair manages to break the resistances at 0.7275 and 0.73, the “Shark” pattern will be activated. This situation will let bulls keep moving towards its 161.8% target.
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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