priyesh
Short

AUDUSD - Possible Bearish Breakout

FX:AUDUSD   Australian Dollar/U.S. Dollar
AUDUSD             has been trading within an ascending triangle for the majority of this year and a breakout is expected within the next two weeks. With the US Dollar             hitting nine month highs earlier this week, a December rate hike is strongly expected which would strengthen the greenback further. Meanwhile, the pressure of a rate cut has eased in Australia after inflation data for the last quarter came out higher than expected at 0.7%. Economic data for Australia throughout the next couple of months will be an important indicator as to whether they will maintain or cut rates. In the US, investors will be focussed on the upcoming election and a possible rate hike in December.
We will be watching this pair for a breakout downwards to the 0.715 and 0.68 levels. Alternatively, an upwards breakout could see AUDUSD             head towards 0.8.

Short ? No, thanks.....I prefer to ho long...
Reply
zhashm1 Cambista
Nice analysis ;) @Cambista
Reply
@zhashm1, it went Up 200 pips in October and I made my trade....hope you do the same...
Reply
zhashm1 Cambista
Well done... @Cambista,
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out