AUDCHF Long
Updated
Riding the bullish sentiment on AUD in COT report along with its rally last week after some good news regarding its better than expected trade balance as well as China's CPI, and Australia getting exempted too from steel tariffs imposed by Trump (like Canada and Mexico). Must monitor CHF and EUR closely though because any signs of rally soon might make this pair ranging instead and there's risk of getting whipsawed instead. Setting up buy stop order @0.75 with TP near weekly resistance @0.775 and SL somewhere between base and R1 pivot lines @0.74
businessinsider.com.au/australia-dollar-aud-us-payrolls-hourly-wage-growth-2018-3
investing.com/analysis/round-table-200297089
thewest.com.au/politics/world-politics/australian-steel-gets-us-tariff-exemption-ng-b88770548z
Daily:
Weekly:
Confidence: B (because of geopolitical risk concerning EUR that can affect CHF)
businessinsider.com.au/australia-dollar-aud-us-payrolls-hourly-wage-growth-2018-3
investing.com/analysis/round-table-200297089
thewest.com.au/politics/world-politics/australian-steel-gets-us-tariff-exemption-ng-b88770548z
Daily:
Weekly:
Confidence: B (because of geopolitical risk concerning EUR that can affect CHF)
Order cancelled
Pair didn't reach the buy stop; also my sentiment on AUD changed after Trump recently slaps the $50-60B tariff on China-- which has a negative impact on AU as well despite being exempted from it.
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