$AUDUSD - Breakout from the ending diagonal
Hi guys! 👋🏻
🔔 Breakout from the ending diagonal (wedge) is confirmed, AUD/USD remains above the resisance of 0.76670, which is a bullish continuation sign for the pair. Although might slightly correct to retest the upper edge of the pattern as support, so keep that in mind.
🔔 The US Annual inflation rate in March exposed 2.6% which is far beyond the FED’s desired 2%. Hence, investors worry that the FED may reconsider the interest rates sooner than expected.
🔔 Australian Consumer sentiment index in April surged to 6.2% (previous 2.6%) as consumers tend to show confidence in the economic growth of Australia.
🔔 The US Inflation data once again beat expectations and brings anxiety to the market, slacking the US Dollar index. DXY lost 0.28% yesterday and is down 0.12% today, while commodities like gold and silver are looking to rally. The Australian Dollar which is mainly correlated to Gold is on the main spot light.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
🔔 Breakout from the ending diagonal (wedge) is confirmed, AUD/USD remains above the resisance of 0.76670, which is a bullish continuation sign for the pair. Although might slightly correct to retest the upper edge of the pattern as support, so keep that in mind.
🔔 The US Annual inflation rate in March exposed 2.6% which is far beyond the FED’s desired 2%. Hence, investors worry that the FED may reconsider the interest rates sooner than expected.
🔔 Australian Consumer sentiment index in April surged to 6.2% (previous 2.6%) as consumers tend to show confidence in the economic growth of Australia.
🔔 The US Inflation data once again beat expectations and brings anxiety to the market, slacking the US Dollar index. DXY lost 0.28% yesterday and is down 0.12% today, while commodities like gold and silver are looking to rally. The Australian Dollar which is mainly correlated to Gold is on the main spot light.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Comment:
TP1, 2 on the way
Comment:
TP2
Trade closed: target reached:
All three targets hit!
Nothing is true, everything is permitted.
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