FullTimeTrader
Long

XAGUSD-long based on correlation and support

FX_IDC:AUDUSD   AUSTRALIAN DOLLAR / US DOLLAR
811 2 18
Here we can see the correlation between AUDUSD             and silver             .
After a deep retracement and good fundamental news the AUDUSD             seems to start a rally at least to reach lasth highs (convergence level)

I expect the same scenario for silver             , after a deep pullback price is finding support at key level. SL would be below this level.

The R/R ratio is good, lets see. Im showing only one target to test price should reach this level according to convergence.

You can manage the trade using a tested strategy.

Best regards.

*****************DISCLAMER********************************************************************
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
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Rayge
a year ago
audusd
Reply
FullTimeTrader Rayge
a year ago
Agree, AUDUSD should star a long term rally. Silver is positive correlated and we should expect the same. Regards.
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