We see that AUDUSD hold above key support 0.7580 for 4 months from March 11. This is a strong support which AUDUSD bounced from this level 5 times, and now AUDUSD once contacts this level. The question on the table now Does Aussie/Dollar breaks this level or bounces from the low ?
5 times bounce from the low, most people are thinking about BUY IN DIP, but be cautious . Let rethink about current situation.
I see that China stock fell sharply last month, and this trend could continue this month. PBOC cut rate, today Australia Retail Sales cann't beat the forecast.
Next week, we have RBA Minutes + Australia Employment report.
I surely RBA will use this meeting as a change to talk down the Aussie to respond the rate decision of PBOC, and most likely the employment report could be NEGATIVE.
This means Aussie most likely breaks the LOW and move lower.
- Back to the Technical Analysis.
+ RSI indicator show the indicator are falling down, and there still has the room for the decline: Oversell zone still wait for the contact.
+Price bounce from the intersection of two trend lines.
+ The most important thing I want to say is: Head and Shoulder Pattern: AUDUSD is now stop at the neckline of pattern.
Any break the neckline always goes with the downtrend. I wait for the break.
Next week: I WAIT FOR THE BREAK, BUT IF YOU BELIEVE IN MY ANALYSIS, HIT SELL ORDER NOW.
--------------------------
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Support: support@trackingforexsignals.com
Website: www.trackingforexsignals.com
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Best Regard!
- -TrackingForexSignals.com--
Do the Right thing- Think the right way.
5 times bounce from the low, most people are thinking about BUY IN DIP, but be cautious . Let rethink about current situation.
I see that China stock fell sharply last month, and this trend could continue this month. PBOC cut rate, today Australia Retail Sales cann't beat the forecast.
Next week, we have RBA Minutes + Australia Employment report.
I surely RBA will use this meeting as a change to talk down the Aussie to respond the rate decision of PBOC, and most likely the employment report could be NEGATIVE.
This means Aussie most likely breaks the LOW and move lower.
- Back to the Technical Analysis.
+ RSI indicator show the indicator are falling down, and there still has the room for the decline: Oversell zone still wait for the contact.
+Price bounce from the intersection of two trend lines.
+ The most important thing I want to say is: Head and Shoulder Pattern: AUDUSD is now stop at the neckline of pattern.
Any break the neckline always goes with the downtrend. I wait for the break.
Next week: I WAIT FOR THE BREAK, BUT IF YOU BELIEVE IN MY ANALYSIS, HIT SELL ORDER NOW.
--------------------------
Any contact: LH admin: admin@trackingforexsignals.com
Support: support@trackingforexsignals.com
Website: www.trackingforexsignals.com
FB page: www.facebook.com/sforexsingals
Best Regard!
- -TrackingForexSignals.com--
Do the Right thing- Think the right way.
