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TraderAvDM
May 2, 2019 9:01 AM

AUDUSD approaching MAJOR Support: HUGE BUY for long-term Long

Australian Dollar/U.S. DollarFXCM

Description

AUDUSD is consolidating at the bottom for quite some time now. Every attempt to break upwards has so far resulted in a failure.
However, if you look at the chart, we are approaching a MAJOR SUPPORT on the weekly chart.
This presents a HUGE BUY opportunity for long-term traders. Even short-term traders too can look towards buying AUDUSD at every dip.
The BUYING zone is at 0.6900-0.7110 with SL below 0.6820. LONG-TERM traders can look at 0.8100 as a potential TP that can be achieved by the end of this year.
I believe the rally in currencies such as AUD and NZD will take place once the trade deal between the US and China is finalized.

Trade active

Bought at 0.6999
SL: 0.6950
TPs:0.7050,0.7120
Comments
AidanMDang
I think we have two possible scenarios. A double bottom is definitely one of them
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