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Euraud a pullback to be supported and bounce?Tradingview Ideas: Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. Watching for this pullback on lower timeframe to play out and hold , then look to long Do check out my stream video for the week to have more explanation in place. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
by Shadowing_The_Big_Boys
AUD/USD Shows Signs of Recovery Amidst Softening US DollarAUD/USD Shows Signs of Recovery Amidst Softening US Dollar The Australian Dollar is experiencing a mild recovery on Thursday, benefiting from a weakened US Dollar. The currency pair has managed to trim some losses, reclaiming levels above 0.6550. This article delves into the technical and fundamental aspects influencing the Australian Dollar's recent performance. Technical Analysis: From a technical standpoint, the price has undergone a retracement to a critical support zone around 0.6520/0.6525. Within this area, key levels include the 50% and 61.8% Fibonacci retracement levels, along with the dynamic trendline of a potential bullish channel. This convergence of technical factors suggests the possibility of a bullish push-up in the near term. Fundamental Insights: On the macroeconomic front, Australian economic indicators present a mixed picture. Consumer Inflation Expectations remained stable at 4.5% in January, indicating a level of inflationary expectations among consumers. However, concerns arise as the number of employed workers unexpectedly declined, pointing towards potential challenges in the labor market and a loss of momentum. Conclusion: The Australian Dollar's recovery is underpinned by a softer US Dollar, offering traders an opportunity to reassess their positions. The technical analysis highlights a significant support zone, suggesting a potential bullish move. However, the mixed macroeconomic data, particularly the unexpected decline in employed workers, introduces an element of caution. Our preference Long positions above 0.64 with targets at 0.68 & 0.69 in extension.
Long
by FOREXN1
5
Buy AUDJPY Channel BreakoutBoJ not changing policy, intensified interest rate differential game: Comments from the country's monetary authorities suggest a new wave of pressure on the yen after three months of easing or ‘recharging’. With the Bank of Japan not changing policy, the yen is potentially under pressure from an intensified interest rate differential game. And this game promises to be more aggressive now than a year ago, as yield spreads between Japan and the US have widened for both short and long-term yields. The current higher interest rate environment is an opportunity for Japan to competitively devalue its currency to support national exporters, which it failed to do in the last decade in the era of zero interest rates. Price breaks the channel now, its good chance to buy now. Thank you
Long
by KABHI_TA_TRADING
6
Examining Inflation Trends for AUDUSD Hey Traders, in today's trading session we are monitoring AUDUSD for a selling opportunity around 0.66800 zone, AUDUSD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.66800 support and resistance area. Let's delve into the fundamental landscape, specifically examining the recent Consumer Price Index (CPI) data. The CPI figures released on December 12, 2023, showed a 3.1% change, matching the previous month's figure and slightly below the forecasted 3.2%. This indicates a relatively stable inflationary environment in the Australian economy. Comparing this with the preceding months' CPI data, we observe a consistent trend. The October 2023 data showed a 3.7% inflation rate, slightly higher than September's 3.6% and in line with expectations. However, in August 2023, there was a slight decrease, with inflation recorded at 3.2%, compared to the previous month's 3.3%. The most recent CPI data at 3.4% suggests a mild deceleration in inflation, aligning closely with market expectations. This information provides valuable insights for traders considering a selling opportunity in AUDUSD, as stable or slightly decreasing inflation may influence market sentiment and potential currency movements. Trade safe. Joe
Short
by JoeChampion
1