Re: NPBFX - making money with us since 1996!
AUD/USD: Australian dollar is going down 25.01.2019
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on AUD/USD for a better understanding of the current market situation and more efficient trading.
AUD showed a noticeable decline against USD on Thursday, having updated local lows of January 4. At the same time, in the morning the instrument was trading higher, which was due to the publication of a strong report on the Australian labor market for December.
The unemployment rate dropped to 5.0%, and the employment rate rose by 21.6K. However, general employment growth was achieved due to an increase in the number of part-time working citizens (24.6K). At the same time, the number of full-time workers fell for the second month in a row, this time by 3K. Thus, the state of the labor market in Australia can't be called stable.
Today, the instrument is trading with a raise. Due to the half-empty macroeconomic calendar, investors can concentrate on fixing short profits on AUD.
Support and resistance
Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is expanding, but it still fails to catch the development of the current “bearish” trend, which indicates the risks of corrective growth. MACD is going down keeping a fairly stable sell signal (located below the signal line). Stochastic, having reached its lows, is trying to reverse upwards, indicating an oversold instrument in the ultra-short term.
It is necessary to wait until the upward correction signals are confirmed in the near future.
Resistance levels: 0.7115, 0.7145, 0.7165, 0.7200.
Support levels: 0.7075, 0.7053, 0.7027, 0.7000.
To open long positions, one can rely on the rebound from 0.7075 as from support with the subsequent breakout of 0.7115. Take profit — 0.7165 or 0.7200. Stop loss — 0.7080.
A breakdown of 0.7075 may be a signal to further sales with target at 0.7000 or 0.6973. Stop loss — 0.7100 or 0.7115.
Implementation period: 2-3 days.
Use more opportunities of the NPBFX analytical portal: glossary
Beginning traders certainly face a lot of specialized concepts and lexicon on FOREX, which are often not fully been understood. Swap, tick, hedge, margin calls are often unfamiliar to beginning traders. But the lack of knowledge of these fundamentals make a competent market vision impossible. So glossary on the NPBFX analytical portal could be an excellent helper in this case, which contains all the main definitions with explanations in a compact and accessible form. All concepts are arranged in alphabetical order, so that you can easily and quickly find and explore a new concept for yourself.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on AUD/USD and trade efficiently with NPBFX.