AUDJPY Probabilities Price Direction
This is an easy game to know how the global pandemic isn't settled yet and knowing how all big central banks honchos cooperated together to fight against this pandemic by deciding to lower OCR rates equally to combat against the corona virus. State & Europe are new continents who are for now struggling and combating strongly against this pandemic. I hope they win this battle soon but for now, commodities are hampered badly it seems a pity moment to even know how badly supply chain distortion has ruin commodities overall. Comdolls have very fewer probabilities at this hard period of time to even think that they may rise back. They need some pure remedy like "vaccine development" good reports to bring back optimistic. The move upward may only be some correction or retracement on price but it will be hard to think if it is an overall reversal in trend. We all know oil has been the most interesting commodity lately and knowing how it heavily plunged due to the pandemic case so I have not much good faith over comdolls bullish sentiment at least for now. One interesting thing which I would like to talk about is how New Zeland trying to combat strongly lately knowing how it cuts the rate below RBA (which was emergency cut in the weekend, Sunday) seeing that RBA has still room, for now, to get equal to its neighboring country which probably is a case market participant may price in lower for further remaining rooms for cuts (still 0.25 bp room left comparing to other). And lastly, how could I close my idea without mentioning our China which plays the main role over this global pandemic case. If you knew the more china in hurt or the escalation of spreading the virus rate and death counts then remember it will equally hurt Australia and Newzealand businesses as well so keep in that mind. Be sensitive over global risk news updates. This is all some beyond technical analysis thoughts from my side to this pair and if you find this idea valuable don't forget to support me with providing a thumps up! Peace :)
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Oh that was 40 pips drop so far from the entry, not bad start hmm..
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yikes!
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Yay! it is beautiful to know how price action followed the arrow where I expected price to be. This is definitely a fine week for me
