Confluences for Trade:
- candle formations
- Overbought momentum
- Price action near Horizontal Resistance
- Fundamentally, growth outlook is still showing drastic weakness across US, China, EU and other nations. The AUD has remain strong in recent days, probably due to China wanting to cut tariffs to stimulate growth but this takes time for it to kick into the economy. We see this as a short-term negativity as the USD weakness will follow through in the coming months.
Entry @ Area of Interest 0.7175 - 0.7215
RR: Approx. 2.06 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.