|Goles ||Oct 17, 2019 9:10pm | Post# 105562 |
i am extremely bullish on audusd. not only the unemployment data for aud turned out to be surprisingly good, but also everything is prepared for a bullish rally for aud against usd. a trade deal has decreased the risk for asian markets, all the recent data from asian and european markets have turned out good while that of us was poor. and the last but not the least, the audusd has bottomed out and now is the time for at least a medium term correction in the prices. this can be seen from the technical point of view where a reverse head and shoulder...
The Aussie raised quite fast as anticipated. today's GDP data on china's economy is important for Aussie. however, whatever the result be, I don't think it would stop AUDUSD to reach the previous high around .6890. the aggregate of situations and market conditions, from Brexit good news and Australia's unemployment rate improvements to poor US economic data is well enough for the USD to take at least a moderate correction in the short run. I have put my TPs before that level one at .6875 and .6883 to increase the chances of taking my profits in the first attempt towards the resistance at .6893.