In this topic :
I predicted exactly the bearish trend of A/U , I thought A/U can reach to 0.91 level, but it just moves to 0.927.
Because I didn't think that Yellen provided much dovish comments. I thought Yellen would be cautious when she gave her viewpoint. Unfortunately, she was so much dovish, she wanted to keep QE. I couldn't predict what she will say.
Now I present idea for A/U next two days before RBA Minutes.
Technical Analysis:
- A/U today reached strong support and resistance level: 0.93
This is also 50% Fibonacci retracement level : A strong support level.
I show on the chart 4 times A/U test this level.
- Stoch (14,3,3) :%K cuts %D two times : Strong signal for changing the trend.
Fundamental Analysis:
- Bearish trend of A/U was stopped by Yellen Speach today. She confirmed that QE should not stop now to support US economy. We can see market reacted greatly after her speach : USD Sell off.
- I think A/U found dynamic to rally.
Next Monday is RBA Minutes, I don't know what happen after the Minutes, but I claim that before it, the trend of A/U will be UPTREND
Target: 0.94 , 38% Fibonacci Retracement Level.
Stop Loss: 0.92, 61.8% Fibonacci Retracement Level.
Good Weekend all traders.
If you like my analysis ,please following me.
I predicted exactly the bearish trend of A/U , I thought A/U can reach to 0.91 level, but it just moves to 0.927.
Because I didn't think that Yellen provided much dovish comments. I thought Yellen would be cautious when she gave her viewpoint. Unfortunately, she was so much dovish, she wanted to keep QE. I couldn't predict what she will say.
Now I present idea for A/U next two days before RBA Minutes.
Technical Analysis:
- A/U today reached strong support and resistance level: 0.93
This is also 50% Fibonacci retracement level : A strong support level.
I show on the chart 4 times A/U test this level.
- Stoch (14,3,3) :%K cuts %D two times : Strong signal for changing the trend.
Fundamental Analysis:
- Bearish trend of A/U was stopped by Yellen Speach today. She confirmed that QE should not stop now to support US economy. We can see market reacted greatly after her speach : USD Sell off.
- I think A/U found dynamic to rally.
Next Monday is RBA Minutes, I don't know what happen after the Minutes, but I claim that before it, the trend of A/U will be UPTREND
Target: 0.94 , 38% Fibonacci Retracement Level.
Stop Loss: 0.92, 61.8% Fibonacci Retracement Level.
Good Weekend all traders.
If you like my analysis ,please following me.