AUDUSD 100 Pip Long Setup
Updated
Hello Friends,
Today i'm looking for a buy on AUDUSD for the following reasons:
1. Coronavirus fears have greatly impacted the financial markets, with JPY and GOLD having all the fun, but this rally has slowed down. Any positive news regarding the spread of the virus will send markets back into risk-on mode
2. EURUSD has approached 1.10 Support once again, So weakness in USD is anticipated
3. Interest Rate Decision for USD tomorrrow, which should provide good volatility for this trade to get started
4. We are seeing some buying pressure at the 0.675 Level, where support held previously
Today i'm looking for a buy on AUDUSD for the following reasons:
1. Coronavirus fears have greatly impacted the financial markets, with JPY and GOLD having all the fun, but this rally has slowed down. Any positive news regarding the spread of the virus will send markets back into risk-on mode
2. EURUSD has approached 1.10 Support once again, So weakness in USD is anticipated
3. Interest Rate Decision for USD tomorrrow, which should provide good volatility for this trade to get started
4. We are seeing some buying pressure at the 0.675 Level, where support held previously
Note
If price is going to reverse today a stop-hunt below yesterday's low is very likely, so I'm giving extra space for the trade to breathe. Having additional orders slightly below yesterday's low might also be a good idea.
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.