It appears that the flash crash early in January showed where the prices would be 7 months later as we retested its low. Now daily candle starts to show bearish engulfing pattern if it closes above yesterday's high. This could be a good opportunity for a buy if you did not at the low. Could be a double bottom on the hourly chart (see in the comments).
The RBA rates remain unchanged and the statement was slightly dovish saying ' it is likely to take longer than earlier expected for inflation to return to 2 per cent.' So RBA is not planning to raise rates any time soon and pointed that it may take even longer before the rate hike. But they said that it will be happen only if needed depending on economic numbers. So more attention on the fundamentals here, mainly the trade war as it affects both USA and Australia that has a lot of trade with China.
Good Luck!
The RBA rates remain unchanged and the statement was slightly dovish saying ' it is likely to take longer than earlier expected for inflation to return to 2 per cent.' So RBA is not planning to raise rates any time soon and pointed that it may take even longer before the rate hike. But they said that it will be happen only if needed depending on economic numbers. So more attention on the fundamentals here, mainly the trade war as it affects both USA and Australia that has a lot of trade with China.
Good Luck!
Comment:
Comment:
Divergence is present on indicators, though the candles lack impulsiveness a little.