Technical:
Wave 3 within the 5 wave count is extended to a 5 wave count, Where the total count gives a 9 wave structure and a 13 wave structure counting the a,b,c in. 13 waves is the same as 9 wave structure which is also the same as a 5 wave structure. All the Fibonacci levels is fulfilled with the wave count.
Fundamentals:
The trade war is fully ongoing, and this is bringing opportunities for the Australian economy.
Much of the stuff, china is importing from Australia, they actually use. china accounts for 30% of Australia's export, where 77% is used in china and only 23% is re-export, where only 20% is re-exported to US. so overall the fall in the Australian dollar is an overreaction and speculation, for a lower export rate to china. I think that this opens opportunities for Australian agriculture industry, and this can mean more expanded exports to china and more Australian currency trading. Australia is still at a low pace of growth.
Australian private debt to GDP, is extremely high at 205,2% and is actually 130% higher than the us and is expected to expand further into 2019. the bank lending rate is at 8,65%
While consumer spending is increasing so does the private debt.
Building permits is also not at its best,and is also expected to fall slightly in the coming months.
Australia has a AAA with a 97 TE credit rating.
Entries and exits:
I am looking at a level between 0.71500 and 0.70300 with a SL. under 0.70300 and a TP. at 0.75000 and 0.76000
( the analysis is invalid if break of around 0.70300 )
Wave 3 within the 5 wave count is extended to a 5 wave count, Where the total count gives a 9 wave structure and a 13 wave structure counting the a,b,c in. 13 waves is the same as 9 wave structure which is also the same as a 5 wave structure. All the Fibonacci levels is fulfilled with the wave count.
Fundamentals:
The trade war is fully ongoing, and this is bringing opportunities for the Australian economy.
Much of the stuff, china is importing from Australia, they actually use. china accounts for 30% of Australia's export, where 77% is used in china and only 23% is re-export, where only 20% is re-exported to US. so overall the fall in the Australian dollar is an overreaction and speculation, for a lower export rate to china. I think that this opens opportunities for Australian agriculture industry, and this can mean more expanded exports to china and more Australian currency trading. Australia is still at a low pace of growth.
Australian private debt to GDP, is extremely high at 205,2% and is actually 130% higher than the us and is expected to expand further into 2019. the bank lending rate is at 8,65%
While consumer spending is increasing so does the private debt.
Building permits is also not at its best,and is also expected to fall slightly in the coming months.
Australia has a AAA with a 97 TE credit rating.
Entries and exits:
I am looking at a level between 0.71500 and 0.70300 with a SL. under 0.70300 and a TP. at 0.75000 and 0.76000
( the analysis is invalid if break of around 0.70300 )