Aussie: AUDNZD Undervalued: Fundamental Analysis
Updated
Fundamental Analysis:
So, here is my personal scoop for today's employment data coming out for the Australian economy:
i.gyazo.com/3f892e929635a9a25d86dbca0064bf7a.png
See my earlier analysis on the Aussie a few weeks or months back. The picture is the same.
It is forecasted to come out good by economists; AND on top of that, my personal predictive analysis is also a positive reading for the Australian dollar. This should not be as hard as reading UK's data. I think the Australia is not as affected by UK data as much as the GBP, EUR and the US data ebbing and flowing and mixing around (spinning our heads).
Technical Analysis:
I have entered a bullish position ahead of the economic data release, and I expect BETTER THAN expected news.
If not, people will probably bail out in fear, even if it just meets the bare minimum of economist expectations. I need really good news. If not, then I will rely just on the technical picture in the chart as a guide.
So, here is my personal scoop for today's employment data coming out for the Australian economy:
i.gyazo.com/3f892e929635a9a25d86dbca0064bf7a.png
See my earlier analysis on the Aussie a few weeks or months back. The picture is the same.
It is forecasted to come out good by economists; AND on top of that, my personal predictive analysis is also a positive reading for the Australian dollar. This should not be as hard as reading UK's data. I think the Australia is not as affected by UK data as much as the GBP, EUR and the US data ebbing and flowing and mixing around (spinning our heads).
Technical Analysis:
I have entered a bullish position ahead of the economic data release, and I expect BETTER THAN expected news.
If not, people will probably bail out in fear, even if it just meets the bare minimum of economist expectations. I need really good news. If not, then I will rely just on the technical picture in the chart as a guide.
Note
Need the NZD to also fall to complement this trade.Note
For now, I took a long position in the NZDUSD...it is in an uptrend.Note
PERFECT FUNDAMENTAL RESULTS: august 17, 2016L 9:30pm EST
AUD
Employment Change
Actual: 26.2K | -consensus: 10.2K | Previous: 7.9K
AUD
Unemployment Rate
Actual: 5.7% | consensus: 5.8% | Previous: 5.8%
Note
Now, all we need is for the trade to go in our favor, technically!Note
Broken "Pi" pattern: 2nd entry
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