2019-12-09 • Updated
Trade ideas
SELL 0.6805; TP 0.6770; SL 0.6820
BUY 0.6660; TP 0.6680; SL 0.6650
SELL 0.6685; TP 0.6630; SL 0.6905
Last week AUD/USD managed to take off from the 0.6760 area. Then it consolidated between 0.6855 and 0.6810. On the downside, the 100- and 50-day MAs support the pair. These lines made a positive intersection. Daily oscillators are moving higher. This means that the Aussie has potential to test the long-term downtrend resistance line in the 0.6880 area.
On the H4, we can see that the consolidation is taking form of a symmetric triangle. A false break to the upside took place on Friday before the pair stabilized at the 200-period MA (0.6830). Beware the volatility related to the US-China trade war.
The trading strategy is either to look for buy patterns in the 0.6810/20 area or to sell on the break below 0.6810 targeting 0.6770. The advance to the 0.6880 area may be a reason to look for sell opportunities.
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.
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.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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