The Australian Dollar made an 18-month low in January, eclipsing the November 2020 nadir of 0.6991 by a small margin. The weekly price is breaking Ichimoku cloud to below for the primary bearish reversal to 0.7165 and 0.7086 possible bearish targets. more...
How I Trade Breakouts
EUR/USD: No change. We are bearish and prefer to fade upticks against resistance in the 1.1300 area. A move below 1.1135 would signal lower towards our targets near the 1.1050 area and then the 1.0815 May lows. Our greater downside targets are at the 1.0460 year-to-date lows. GBP/USD: Thursday’s bullish engulfing candle has encouraged us to re-instate our bullish view. We are looking for a move back towards the 1.5930 range highs. ...
Aussie Dollar at Risk as US Data, FOMC Minutes Hurt Risk Trends Fundamental Forecast for Australian Dollar: Bearish Lull in Australian Economic News-Flow Puts Spotlight on External Catalysts Upbeat US Data, Hawkish FOMC Minutes to Hurt Aussie Amid Risk Aversion Another quiet week on the Australian economic data front keeps the spotlight on external factors, with the evolving outlook for Federal Reserve ...
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