Potential HUGE trade - Nice Risk Reward ratio
Currently, the price is retesting the June 12, 2021, and December 5, 2021, Minor trendline. As long as the price stays above this line, I reckon AUDUSD will start to climb to retest the February 25, 2021 Down trendline. However, a breakout below this support, AUDUSD potentially falls deeper to retest June 12, 2021 low at a 0.67 level.
Catalyst:
- AUD Cash rate
- RBA Rate Statement
- US ISM Manufacturing PMI
- US JOLTS Job Openings
- ADP Non-Farm Employment Change
- US Unemployment
- ISM Services PMI
- NFP
Invalidation:
- This analysis fails if the price breakout the Red support
Catalyst:
- AUD Cash rate
- RBA Rate Statement
- US ISM Manufacturing PMI
- US JOLTS Job Openings
- ADP Non-Farm Employment Change
- US Unemployment
- ISM Services PMI
- NFP
Invalidation:
- This analysis fails if the price breakout the Red support
Note
Note
Target 1, DoneNote
🇦🇺 RBA Interest Rate DecisionActual: 0.1%
Expected: 0.1%
Previous: 0.1%
Note
Target 2, DoneNote
Note
🇺🇸 Initial Jobless Claims (29/JAN)Actual: 238K
Expected: 245K
Previous: 261K
Note
US Jan Consumer Prices +0.6% vs. +0.4% est.US Jan CPI Ex-Food & Energy +0.6% vs. +0.4% est.
US Jan Consumer Prices Increase 7.5% From Year Earlier; Core CPI Up 6% Over Year
🇺🇸 Initial Jobless Claims (05/FEB)
Actual: 223K
Expected: 230K
Previous: 239K
Note
Target 3, Done
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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.