Waiting for a breakout from the S1 pivot line with TP near S3 and SL a few pips above S1. This is in line with the recent recovery in USD, and not-so-good news in iron because of current low demand in China which impacts AUD as well, not to mention its recent retail sales report. But a recovery is also possible from its current Nov low resistance since RBA is planning to discuss next month a possible interest rate for AUD soon.
www.forexcrunch.com/...l-weak-retail-sales/
www.dailyfx.com...er-in-Play.html?DFXfeeds=f...
D:
W:
Confidence: C (got a wait-and-see approach for this; I'm quite expecting a further breakout at the downside though because of its ADX both in the Daily and Weekly charts as well as the current outlook in China which kinda overrides whatever the RBA plans to do. But I'm also uncertain with USD and just riding its current momentum.)
www.forexcrunch.com/...l-weak-retail-sales/
www.dailyfx.com...er-in-Play.html?DFXfeeds=f...
D:
W:
Confidence: C (got a wait-and-see approach for this; I'm quite expecting a further breakout at the downside though because of its ADX both in the Daily and Weekly charts as well as the current outlook in China which kinda overrides whatever the RBA plans to do. But I'm also uncertain with USD and just riding its current momentum.)
Comment:
www.fxstreet.com/new...-budget-201705090503