AUDUSD, Are we in a new trend?!
AUDUSD / 4H
Dear Traders,
I warmly welcome you to this free and educational multi-timeframe technical analysis on AUDUSD pair.
From a weekly viewpoint, in my opinion, AUDUSD looks remarkably bearish . A Double top formation with a previous high on the daily time frame, and the downward trend has already begun as seen from last month's close.
Everything appears to be pointing towards the onset of the next bear move.
Currently, on the daily timeframe , we are experiencing a pull-back to the Broken support that might turn into resistance. Therefore, I am patiently waiting for my sell zone to be reached and will be looking on lower time frames for a good entry point in case I get my entry creteria validated.
Fundamentals:
USD: The present weakness observed in the dollar can be attributed to the remarks made by Bostic, a member of the Federal Reserve , regarding the potential for the central bank to suspend its policy of raising interest rates by mid to late summer. These comments, made towards the end of last week, are believed to have fueled the recent drop in the AUDUSD and other USD pairs . It is noteworthy, however, that the bond market - widely regarded as the most astute barometer of market sentiment - did not exhibit a substantial reaction to Bostic's statements. Thus, while Bostic's comments have had an impact on the currency market, their significance in the larger financial landscape remains subject to interpretation.
AUD: The IMF revised China's growth outlook sharply higher for 2023, to 5.2% from 4.4% in the October forecast after "zero-COVID" lockdown policies. Which is bearish sign for The AUD.
Thank you for joining me today, and I look forward to seeing you again with another market outlook! Also, kindly check out my previous analysis of USDJPY here:
Trade safely,
Trader Leo.
Dear Traders,
I warmly welcome you to this free and educational multi-timeframe technical analysis on AUDUSD pair.
From a weekly viewpoint, in my opinion, AUDUSD looks remarkably bearish . A Double top formation with a previous high on the daily time frame, and the downward trend has already begun as seen from last month's close.
Everything appears to be pointing towards the onset of the next bear move.
Currently, on the daily timeframe , we are experiencing a pull-back to the Broken support that might turn into resistance. Therefore, I am patiently waiting for my sell zone to be reached and will be looking on lower time frames for a good entry point in case I get my entry creteria validated.
Fundamentals:
USD: The present weakness observed in the dollar can be attributed to the remarks made by Bostic, a member of the Federal Reserve , regarding the potential for the central bank to suspend its policy of raising interest rates by mid to late summer. These comments, made towards the end of last week, are believed to have fueled the recent drop in the AUDUSD and other USD pairs . It is noteworthy, however, that the bond market - widely regarded as the most astute barometer of market sentiment - did not exhibit a substantial reaction to Bostic's statements. Thus, while Bostic's comments have had an impact on the currency market, their significance in the larger financial landscape remains subject to interpretation.
AUD: The IMF revised China's growth outlook sharply higher for 2023, to 5.2% from 4.4% in the October forecast after "zero-COVID" lockdown policies. Which is bearish sign for The AUD.
Thank you for joining me today, and I look forward to seeing you again with another market outlook! Also, kindly check out my previous analysis of USDJPY here:
Trade safely,
Trader Leo.
Trade fechado: objetivo atingido
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.