Real World Traders--> AUDUSD ready to continue momentum
he AUD/USD currency pair is showing signs of a potential rise, due to a combination of technical and fundamental factors.
First, on the technical side, the AUD/USD has recently retested a key upward trendline, which is a bullish sign. This trendline has acted as support in the past and a retest of this level often results in a continuation of the prior trend.
Second, the fundamentals for the Australian dollar (AUD) are also supportive of a rise. The Australian economy has been showing signs of strength, with low unemployment, solid GDP growth, and a positive outlook for the commodities sector, which is a key driver of the Australian economy. Additionally, the Reserve Bank of Australia (RBA) has been indicating that they may raise interest rates in the future, which could increase demand for the AUD.
Finally, the bullish momentum in the market is also favoring a rise in the AUD/USD. This can be seen through rising bullish sentiment among traders, as well as increased volume and volatility in the market, both of which can indicate increased demand for the currency pair.
Overall, the combination of technical, fundamental, and market sentiment factors suggest that the AUD/USD may be poised for a rise in the near future. However, it's important to keep in mind that the forex market can be highly unpredictable, and there is always the risk of unexpected events that can impact the market. As such, it's important to manage risk and only trade with capital that you can afford to lose.
First, on the technical side, the AUD/USD has recently retested a key upward trendline, which is a bullish sign. This trendline has acted as support in the past and a retest of this level often results in a continuation of the prior trend.
Second, the fundamentals for the Australian dollar (AUD) are also supportive of a rise. The Australian economy has been showing signs of strength, with low unemployment, solid GDP growth, and a positive outlook for the commodities sector, which is a key driver of the Australian economy. Additionally, the Reserve Bank of Australia (RBA) has been indicating that they may raise interest rates in the future, which could increase demand for the AUD.
Finally, the bullish momentum in the market is also favoring a rise in the AUD/USD. This can be seen through rising bullish sentiment among traders, as well as increased volume and volatility in the market, both of which can indicate increased demand for the currency pair.
Overall, the combination of technical, fundamental, and market sentiment factors suggest that the AUD/USD may be poised for a rise in the near future. However, it's important to keep in mind that the forex market can be highly unpredictable, and there is always the risk of unexpected events that can impact the market. As such, it's important to manage risk and only trade with capital that you can afford to lose.
Comment:
Close just bellow Target 1 and move SL break even