This pair been moving with a strong upside momentum in the past two weeks, forming the well-known "Higher-High & Higher-Low" trend.
We are expecting it to keep pushing higher for the next week.
However, the price is currently is at a decision point. So we will need to wait for confirmation before entering the trade.
As the price is currently facing a strong resistance that has formed last February @ 0.66680.
If the price succeeds in breaching the strong resistance, then this would be a good confirmation that the pair is still in mode, and hence we will be activating our scenario 2.
Otherwise, if it fails, we will be looking for more confirmation that the upside momentum has ended and will be looking to shift into the scenario 1.
📰 Economical News to watch for:
1) U.S. ISM Manufacturing Purchasing Managers Index (PMI)
2) AUD Interest/Cash Rate
3) AUD Reserve Bank of Australia Statement
4) AUD GDP q/q
5) U.S. ADP Nonfarm Employment Change
6) U.S. ISM Non-Manufacturing Purchasing Managers Index (PMI)
7) U.S. Crude Oil Inventories
8) U.S. Initial Jobless Claims
9) U.S. Non-farm Payrolls (NFP)
10) U.S. Unemployment Rate
Again, this could be a very volatile week, so stay cautious!
Risk ONLY: 2-3%
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TARGET 2 SMASHED
110+ pips in less than 2 days!
And price is STILL GOING HIGHER (160+ pips in profit now)!
We will close this trade here, and take our money off the table, no need to be greedy!
Congrats to everyone who took this trade. Uncle Bull welcomes everyone onboard and wishes you a good week (it is already a good one with multiple targets hit!).
For more free trades like this one, join us for FREE on Telegram: @UncleBullFX