Last week, we correctly anticipated the Australian Dollar to break the trendline and reach the resistance area that we highlighted on the chart. Our expectations for the coming week are that the price will make a pullback here, finding some resistance, before continuing its rise towards the second resistance area. Keep an eye on the RBA Meeting minutes that will be released on Tuesday morning, as it may generate some volatility Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Thank you. Can the entry and exit points be highlighted as I am new to forex trading.
financialflagship
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@nafisamithaiwala, You're welcome...no entry points at the moment, we need a deeper pullback before any future buy setup. I only highlighted the direction of the chart. 😊