Continues to ride this pair's bearish trend considering the recent trade war between US and China affecting AUD, and with it still losing its yield advantage vs USD because no plans of rate hike in the future and follow ECB and the Fed. Shorting this pair with TP near 1.04345 (support based on weekly chart) and a tight SL near 1.07.
www.dailyfx.com...ar-Worries.html?DFXfeeds=f...
Daily:
Weekly:
Confidence: B (considering NZD has been going bearish as well, and this idea is based more on price action than fundamentals and sentiment--both of which are surprisingly still bullish based on recent COT futures data; with holy week vacation coming soon, this pair might rally first instead before proceeding to continue going bearish again after the coming long weekend)
www.dailyfx.com...ar-Worries.html?DFXfeeds=f...
Daily:
Weekly:
Confidence: B (considering NZD has been going bearish as well, and this idea is based more on price action than fundamentals and sentiment--both of which are surprisingly still bullish based on recent COT futures data; with holy week vacation coming soon, this pair might rally first instead before proceeding to continue going bearish again after the coming long weekend)
Comment:
*consolidate first rather (not rally lol)
