Will the AUD/USD uptrend continue today?

há 4 dias

AUD/USD News:

🔆Recent global trade disputes have bolstered risk-sensitive currencies, leading to an uptick in the Australian Dollar as the US Dollar weakened. The Aussie took advantage of the Greenback's decline, recovering from midweek setbacks and briefly reaching the 0.6399 level, the peak of its monthly range.

🔆With inflation easing in Australia, investors are expecting the Reserve Bank of Australia (RBA) to lower interest rates from 4.35% to 4.10% on Tuesday. However, the RBA might adopt a more hawkish stance by emphasizing ongoing labor-market tightness and lingering inflation risks.

🔆As a result, market participants will be paying close attention to the RBA’s statement, as it remains the last of the G10 central banks yet to cut rates.

Personal opinion:

🔆AUD will have a technical pullback phase after approaching the overbought RSI (4H) zone. And bounce back when there is a strong support zone of 0.6300 to maintain the uptrend.

Analysis:

🔆Based on the trend line combining resistance - support levels and SMA lines to come up with a reasonable strategy

Plan:

🔆Price Zone Setup:

👉Sell AUDUSD 0.6310 – 0.6299
❌SL: 0.6250 | ✅TP: 0.6350 – 0.6400 – 0.6450

FM wishes you a successful trading day 💰💰💰

anteontem

Ordem cancelada

Missed 17 pips to enter the order
and Missed 50 pips of profit

so unlucky