But remain cautious esp regarding volatility from US-China trade talks. Weekly:
waiting for rejection off of support/third touch of trend line
Fundamentals:- There was good data from Australia today even though the RBA (Royal Bank of Australia) did not raise interest rates the rhetoric was positive about wage growth and inflation. Retail sales rose to 0.5% above the expected 0.3% giving a boost to AUD. Technicals:- After some morning long positions traders have taken profits allowing the price to fall...
Aud/Usd - H4 - Price broke out of consolidation with strong bullish momentum so now I am expecting a classic break/retest/continuation scenario with other price action tools as confirmation.
AUDUSD BUY LONG entry ,stoploss,takeprofit all well illiustrated in the chart.
Fundamentally these currencies are both weak and trading weak against weak currencies is not something that I normally recommend. However the technical's do look tempting with the rising trend line and the pin bar rejection of the rising trend line. Also we have had quite some downside in the price lately and a profit taking technical pull back could be on the...
Fundamentals:- The Euro is still one of the weakest currencies out there at the moment and with further stimulus likely in March from the ECB we should see further downside. The AUD has been showing some strength in the economy but still has some mixed data. It is the technical picture that makes this trade more attractive at the moment. Technicals:- As you can...
We still have a weak Euro despite the recent rally. With the better than expected employment figures coming from Australia we now have a technical signal developing on the chart. The Daily engulfing candle and now what looks to be a pull back on that candle should find previous support as resistance and continue to the downside. I would like to see rejection and...