Price is working on the pattern called Falling Wage. We had a nice opportunity when price first touched 61.8 golden ratio of Fibonnaci. Now, we can possibly meet another decline when price touches and reverses back, confirming down moves. However, today we had a big news about an interest rate of Australia. Reserve Bank of Australia announced this rate as unchanged,that is the reason price shoot up. As this pattern is continuation pattern, we prefer not to enter to sell when price reaches an important level. On the other hand, Australian quarterly Gross Domestic Product (GDP) is expecting to release as negative (0.5). The right desicion would be not to enter the market at the end of this pattern. Wait the right time and let the market tell the way of its move
Note
DisclaimerThe above and further references are opinions and are for information purposes only. It is not intended to be direct investment advice. These information are provided for free of charge and have not taken into account your personal financial position or objectives. Therefore, we do not take any responsibility for your loss of capital or other kinds of liabilities. Before proceeding please refer to a “licensed adviser” and “tax agent” of your country of residence.
For additional information, contact us at Befinancemategmail.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.