AUDJPY: Return of Risk On Trades?
AUDJPYTimeframe: 1D
Direction: Long
Confluences for Trade:
- Price action bouncing off Support of Parallel Channel
- Stochastic Oversold momentum (D1 and W1)
- Wide gap between EMAs
- Price action created a double bottom around Parallel Channel support line
- Fundamentally, there is positivity in sentiment moving into the coming 2019 which will see a dollar weakening scenario and AUD will gain from positive sentiment from global outlook being moderate instead of weakening tremendously.
Suggested Trade:
Entry @ Area of Interest 77.45 - 78.45
SL: 76.81
TP: 80.44
RR: Approx. 2.18 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.