No major data for AUD and USD next week. Thus, I consider what happen in this week.
USD
- Retail Sales : 0.4% Bullish for USD
AUD
- RBA's Governor Glens Stevens said that : A/U is now unhelpful. RBA might intervene to weaken Aussie.
- PMI of China is lower than expect.
And the most important information:
Look at on the chart, A/U has a strong corelation with GOLD price. Australia is a commodity export country such as gold, silver. If such commodities sell off. It causes pressure on A/U greatly.
Investors are selling gold and buy stock , they think that stock now make more profit than gold. S&P and Dow are being strengthened by QE3 of FED. Hence, gold decreases as a result and causes A/U goes down.
That is fundamental analysis.
Technical analysis.
A/U broke 0.93 level : strong support and resistance level I show on the chart. If A/U is trade below this level, I think A/U wil continue bearish trend. Moreover, A/U is now below Ichimoku cloud. Signal for bearish trend. I don't show on the chart because I don't want the chart so complicated.
In short, I think A/U will reaches to 0.91 target in the coming weeks.
"" I upload my application on Android Store , the App names Forex Tools including 7parts :
- Lot Size Calculator
- Margin
-Pip Calculator
- Fibonacci Retracement and Extension
- Gann retracement
- Pivot Point
- Trade management.
Just $2 for Pro version with no ads and full currencies in Lot Size calculator and trade management.
Please visit: play.google.com...re/apps/details?id=sforex.... for more detail. Thanks."
USD
- Retail Sales : 0.4% Bullish for USD
AUD
- RBA's Governor Glens Stevens said that : A/U is now unhelpful. RBA might intervene to weaken Aussie.
- PMI of China is lower than expect.
And the most important information:
Look at on the chart, A/U has a strong corelation with GOLD price. Australia is a commodity export country such as gold, silver. If such commodities sell off. It causes pressure on A/U greatly.
Investors are selling gold and buy stock , they think that stock now make more profit than gold. S&P and Dow are being strengthened by QE3 of FED. Hence, gold decreases as a result and causes A/U goes down.
That is fundamental analysis.
Technical analysis.
A/U broke 0.93 level : strong support and resistance level I show on the chart. If A/U is trade below this level, I think A/U wil continue bearish trend. Moreover, A/U is now below Ichimoku cloud. Signal for bearish trend. I don't show on the chart because I don't want the chart so complicated.
In short, I think A/U will reaches to 0.91 target in the coming weeks.
"" I upload my application on Android Store , the App names Forex Tools including 7parts :
- Lot Size Calculator
- Margin
-Pip Calculator
- Fibonacci Retracement and Extension
- Gann retracement
- Pivot Point
- Trade management.
Just $2 for Pro version with no ads and full currencies in Lot Size calculator and trade management.
Please visit: play.google.com...re/apps/details?id=sforex.... for more detail. Thanks."