Entered trade with trend based on
- expecting USD to come into some strength this week check DXY
- falling wedge formed (still waiting on entry)
- entry is on 61.8 FIB
- the oscillator on the daily has reached oversold and moving back up
- UTA starting to turn around
- looking to take profit at top of range
At the start of the year, markets priced in two interest rate hikes from the Federal Reserve. Then that number dropped down to one after dovish remarks from Fed Chair Jerome Powell which led investors to lower their expectations. Now with another surprise we have an even more dovish stance that was not necessarily priced in by investors. The dollar drops like...
Entry with trend based on
Entry off the previous range low and stop loss on the top of the down movement that pushed price through support.
-Spectro-Oscillator zero point cross
-UTA bearish volume coming in
-Spectro M2 in a clear down with a warning signalled
Australia is seeing the beginning of the bursting of the property bubble. This, combined with the slow down in China and a (predicated) escalation in trade war between the Sino and Anglo sphere, will be a catalyst to the rise of the USD against AU. The global debt and asset bubble combined with deflation will see the USD as the only place to go, initially.
Buy order -Uptrend
Candles are above EMA200
Healthy Trend since the chart is respecting EMA50
Buy Order below resistance Level
May pullback on EMA50
Still an uptrend validated by the last higher highs and higher lows
Enclosed in a channel trending up.
TP1 is based on higher high of the Daily Chart
TP2 -1,44 is based on the Resistance level on Weekly Chart