AUDUSD Trade Idea (12th December 2019)
Currency Pair: AUD / USD
Timeframe: H4
Date/Time of Signal: 12th December 2019 / 2200hrs (SGT)
Review:
US Producer Price Indexes (PPI m/m) data which is a leading indicator for consumer inflation, was worse than forecast.
And with a possible deal with China, this could increase value of the Australia dollar. After all, the Australian dollar is very sensitive to Chinese growth as Australia is a major supplier of hard commodities.
AUD/USD has a upward trend and broken the Resistance level of 0.6870.
Trade signalled to BUY AUD/USD (Entry: 0.6894) with 3 Take Profit (TP) Targets (TP1: 0.6914, TP2: 0.6934, TP3: 0.6954) and Stop Loss (SL) at 0.6954
Timeframe: H4
Date/Time of Signal: 12th December 2019 / 2200hrs (SGT)
Review:
US Producer Price Indexes (PPI m/m) data which is a leading indicator for consumer inflation, was worse than forecast.
And with a possible deal with China, this could increase value of the Australia dollar. After all, the Australian dollar is very sensitive to Chinese growth as Australia is a major supplier of hard commodities.
AUD/USD has a upward trend and broken the Resistance level of 0.6870.
Trade signalled to BUY AUD/USD (Entry: 0.6894) with 3 Take Profit (TP) Targets (TP1: 0.6914, TP2: 0.6934, TP3: 0.6954) and Stop Loss (SL) at 0.6954
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