Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
AUD/USD reached an obstacle
2019-11-11 • Updated
SELL 0.7010; TP1 0.6999; TP2 0.6955; SL 0.7025
The market awaits the release of the US nonfarm payrolls at 15:30 MT time today. According to the consensus forecast, there will be a slight improvement in the American economic figures. To bet on the data that are in line with this forecast or better than it, one can make a bearish bet on AUD/USD.
The pair failed to close above the declining 100-day MA on Thursday forming a candle which is very similar to a “shooting star”. In addition, AUD/USD met the downtrend resistance line since 2018. As a result, the way down is the easiest path for the AUD.
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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