AUDUSD Downtrend Pre CPI And Fed Tomorrow.
Hey Traders,
Many are focused on US News that comes this afternoon.
Mostly, that's because a change in inflation can cause a large chance in the decision making for the Central bank in that economic zone.
The USD has persistently gained value over time, causing a sustained downtrend. With every pull up, comes a following pull down. The last being relatively recent and not causing an enormous immediate fall.
Overtime, trends are preferable to follow as they illustrate the core natural market movement. You can see this on any chart and normally it is formed by a long term bias relating to the economic stance and approach again, by the central bank in that zone.
Inflation data coming up will tell more about the timing of cuts in the US and lessening of rate hikes. If you get a larger change vs the RBNA you may find an acceleration in value.
Nonetheless, from a technical perspective, we remain shorting into highs at short market value. Currently, on a minor push, you are at minor intraday short areas.
Would not be entirely shocked if previous high is beaten if you do see a larger rise, although not buying unless you get a considerable fall from where you are currently located to around .65125. Therefore it may be ideal to hold off until higher Weekly TF areas of resistance.
Be patient.
Many are focused on US News that comes this afternoon.
Mostly, that's because a change in inflation can cause a large chance in the decision making for the Central bank in that economic zone.
The USD has persistently gained value over time, causing a sustained downtrend. With every pull up, comes a following pull down. The last being relatively recent and not causing an enormous immediate fall.
Overtime, trends are preferable to follow as they illustrate the core natural market movement. You can see this on any chart and normally it is formed by a long term bias relating to the economic stance and approach again, by the central bank in that zone.
Inflation data coming up will tell more about the timing of cuts in the US and lessening of rate hikes. If you get a larger change vs the RBNA you may find an acceleration in value.
Nonetheless, from a technical perspective, we remain shorting into highs at short market value. Currently, on a minor push, you are at minor intraday short areas.
Would not be entirely shocked if previous high is beaten if you do see a larger rise, although not buying unless you get a considerable fall from where you are currently located to around .65125. Therefore it may be ideal to hold off until higher Weekly TF areas of resistance.
Be patient.
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Exit shorts for gains.
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No longs until further down (key W support)
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FED news. Orders set under and over.
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Kill all longs. Looking for .68
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Holding shorts.
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Exit for gains, looking long.
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This is an example of how holding light entries can finally be killed for overalll net / Breakeven. Only buying on extreme falls under prev decayed areas.
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And you can see trend maintained. Let markets continue (longs nearer to bottom side of Tech Price Channel.
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No longs until lower. Weakness in market apparent.
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Exit longs. This is why we dca. minor re shorts can be applicable.
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Ideal areas for shorts on pullback (longer term Downtrend).
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Light re-short areas approach.
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Posts Not financial advice.