.7000 to act as major support, Bearish bias but bulls can buy..
Updated
(9/28/20)With the U.S Stock Market looking to resume all-time-highs its important to look at things from a neutral stance with bad news looking to hit any currency at anytime. I always look at AUD because of how it is tied to gold and the Asian markets. We have never seen markets so volatile before just due to so much uncertainty. So with so much uncertainty and bias price action will likely see great bounds of ups and downs around prices that people agree upon such as .7000. Investors still have reason to keep gold and hedge against the U.S dollar which is beginning to prove itself after average inflationary targeting was announced 1 month ago today. Economic damage is still being overlooked by the financial markets. You can likely see dips below .7000 in the short-term from USD bias with corrections in the coming week/days back to its .7000 range until we can find strength. Personally still looking to see AUD rise higher.
Anomalies & Later Events: Due to overinflated prices in stocks we will likely see price make very long-term head and shoulders until we can see what the damage holds in store. Last month's correction should not be ignored but likely won't be significant in the short-term.
Conclusion(9/28/20);Looking to buy dips below .7000.
Anomalies & Later Events: Due to overinflated prices in stocks we will likely see price make very long-term head and shoulders until we can see what the damage holds in store. Last month's correction should not be ignored but likely won't be significant in the short-term.
Conclusion(9/28/20);Looking to buy dips below .7000.
Note
Uh, nice wording 3 month younger me. Stopped out I was nervous and shouldn't have been trading kind of smug of me
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