With over 200pips move in our direction since my last publication on this pair (see link below for reference purposes); It is interesting to know that the Aussie began the week with an edge over the USD before it headed lower before RBA Governor Lowe mentioned the need for more fiscal stimulus. Engulfing candles springing from my Demand zone after the speech is an indication for me that there is a positive side to the Aussie in the coming week(s) as Aussie bounces on the back of the USD drop with treasury yields.
Tendency: Uptrend ( Bullish )
Structure: Trendline | Supply & Demand | Breakout
Observation: i. The rally since march 2020 still appears to be strong as line drawn under pivot lows emphasizes the prevailing direction of price.
ii. Price has respected the Demand zone in the last 3 weeks and ranging above the Bullish Trendline.
iii. Looking forwrd to a Breakout/Retest of Resistance Trendline for confirmation as I keep my fingers crossed on this one!
Trading plan: BUY confirmation with a minimum potential profit of 200 pips.
Risk/Reward: 1:7
Potential Duration: 2 to 5 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Tendency: Uptrend ( Bullish )
Structure: Trendline | Supply & Demand | Breakout
Observation: i. The rally since march 2020 still appears to be strong as line drawn under pivot lows emphasizes the prevailing direction of price.
ii. Price has respected the Demand zone in the last 3 weeks and ranging above the Bullish Trendline.
iii. Looking forwrd to a Breakout/Retest of Resistance Trendline for confirmation as I keep my fingers crossed on this one!
Trading plan: BUY confirmation with a minimum potential profit of 200 pips.
Risk/Reward: 1:7
Potential Duration: 2 to 5 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
