The Australian real estate roller coaster continues and we'll see the biggest declines in real estate of the next six to 12 months.
RBA has hinted it is open to a third rate cut this year as it attempts to revive the country's sluggish economy.
Unemployment in Australia has ticked up to its highest level in nine months.
The USDCNH 7 level if breached could...
It looks possible that a bullish Gartley pattern is about to show itself here on the AudUsd 1 hour chart. I'm more interested in seeing the pattern fail at this level trapping anyone who would go long. If the pattern does work, sure ...it could be an opportunity for a trade. Use common sense, this is just an idea ...trade what you see.
If the "Bullish Deep Crab" sets up near the support level, Then I will enter long. Entry price, stop loss, and profit target have been labeled on the chart.
There are other possible turning points on the chart, with the support and resistance levels shown.
*Important to mention that there is an FOMC meeting later today, 1/30/19.
More about deep crab...
Today I'm Short EurUsd, stopped out of yesterdays trade... yesterday, I thought an upside relief rally was likely... more continuation to the downside ...and, why not? ...Maybe, buyers will re-emerge around 1.125...
Just a chart for reference.
Ratio Down = Risk-On
Ratio Up = Risk-Off
Per FxStreet definition:
A contracting economy usually decreases the industrial demand for silver while gold tends to keep its value as a monetary asset. The reason is that silver functions mainly as an industrial metal while gold serves as a hedge against economic and political uncertainty....
If the overall market sells off ($SPY), then this is my play for the day.
Watching .7800 for support, if this level holds I'll exit early.
Then I'm watching the .77630 to .77550 for support, and if that holds I'll exit early.
If price moves below those zones my larger target is shown.
The risk is very minimal, and once again If the price doesn't stay below .78...
Based on observation the EurUsd seems to put in a low pre-NYSE cash open and moves higher most days, or should I say "often enough to look for a morning drive to the upside"?
There's the 78.6% fib level for the pullback level, and the AB=CD pattern for an entry signal.