AUDUSD Forecast: Disappointing Q3 GDP Numbers & Bearish Pressure

We have entered a short trade in our latest signal and we have reached our targets generating 110 pips. - See attached-

The Australian Q3 GDP numbers released and disappointed the consensus by a wider margin as it limped higher by +0.3%/qtr.

“GDP expanded by “only” 2.8% in 2016 and 2.4% in 2017 and yet the labour market is robust and wages are rising, albeit gradually. The RBA expects growth to ‘average around 3½% this year and next’ while the market’s 2018 and 2019 estimates are 3.0% (was 3.4%) and 3.1% (was 3.3%) respectively, on a mark-to-market basis.”

Australian 10yr bond yield broke below 2.50%, a level that has historically served as a strong floor.

Technically:

The pair is trading at 0.72900 as of writing and H4 Chart indicators and readings turned from bullish to bearish. 0.72600 where SMA 100 H4 Chart and MM 2/8 resides remain as a major support. A firm break below would carry the price towards 0.72000 key level.

Any decent pattern and trade setup will be published for the members.