$AUDUSD - Breakout from the ending diagonal
Hi guys! 👋🏻
🔔 Breakout from the ending diagonal (wedge) is confirmed, AUD/USD remains above the resisance of 0.76670, which is a bullish continuation sign for the pair. Although might slightly correct to retest the upper edge of the pattern as support, so keep that in mind.
🔔 The US Annual inflation rate in March exposed 2.6% which is far beyond the FED’s desired 2%. Hence, investors worry that the FED may reconsider the interest rates sooner than expected.
🔔 Australian Consumer sentiment index in April surged to 6.2% (previous 2.6%) as consumers tend to show confidence in the economic growth of Australia.
🔔 The US Inflation data once again beat expectations and brings anxiety to the market, slacking the US Dollar index. DXY lost 0.28% yesterday and is down 0.12% today, while commodities like gold and silver are looking to rally. The Australian Dollar which is mainly correlated to Gold is on the main spot light.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
🔔 Breakout from the ending diagonal (wedge) is confirmed, AUD/USD remains above the resisance of 0.76670, which is a bullish continuation sign for the pair. Although might slightly correct to retest the upper edge of the pattern as support, so keep that in mind.
🔔 The US Annual inflation rate in March exposed 2.6% which is far beyond the FED’s desired 2%. Hence, investors worry that the FED may reconsider the interest rates sooner than expected.
🔔 Australian Consumer sentiment index in April surged to 6.2% (previous 2.6%) as consumers tend to show confidence in the economic growth of Australia.
🔔 The US Inflation data once again beat expectations and brings anxiety to the market, slacking the US Dollar index. DXY lost 0.28% yesterday and is down 0.12% today, while commodities like gold and silver are looking to rally. The Australian Dollar which is mainly correlated to Gold is on the main spot light.
✊🏻 Good luck with your trades! ✊🏻
If you like the idea hit the 👍🏻 button, follow me for more ideas.
Note
TP1, 2 on the wayNote
TP2Trade closed: target reached
All three targets hit!
Nothing is true, everything is permitted.
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_________________________________
🤖 Get 20% fee cashback on CoinW with this link - coinw.com/frontweb/invitePublicity?r=azizelliott
Related publications
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.
Nothing is true, everything is permitted.
_________________________________
🤖 Get 20% fee cashback on CoinW with this link - coinw.com/frontweb/invitePublicity?r=azizelliott
_________________________________
🤖 Get 20% fee cashback on CoinW with this link - coinw.com/frontweb/invitePublicity?r=azizelliott
Related publications
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.