AUD / USD Our expectations:
Opportunity to take long positions from support levels and after 9th from DeM Sequential. SL at levels of 0.7595.
The price is at levels of diagonal and horizontal supports. After trying to breakout below the SMA200, the price goes back above the moving average. DeM (14) is below 0.3 in an oversold market and DeM Sequential also supports the likelihood of upward movement.
Alternative Scenario: If price returns below the SMA200 or a new bottom will spoil the bullish scenario and we can look for short positions.
Foundation: Recent central banks meetings and eventual Powell appointment as FED Chairman are positive for the stock markets and support risk appetite, which in turn is positive for AUD. On the other hand, we are expecting a tax reform bill today and this can create uncertainty for the USD.
Trader Nikolay Georgiev
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.