Audusd forex analysis and strategy with Millionaire Logistics fxAudusd forex analysis and strategy with Millionaire Logistics fx
Dear Forex traders, trust you are benefitting from the forex analysis we share. Last week we shared our trade idea on eur aud while the trade is yet to reach target, this week our star pair is the Aud Usd.
Sentimentally, There have been reports of covid-19 cases in China which has led to the Chinese authorities enforcing a stay at home order in the major district of Shanghai till Tuesday and with Apple considering to increase productions outside China, Also, with the incumbent Prime minister of Australia conceding defeat to the opposition leader and incoming PM, I perceive the administration having a smooth but economically uncertain transition. As regards the first sentiment, China and Australia are a very close trade allies and partners.
More so, with the current risk appetite of investors are sentimentally risk aversive as US Stocks seem to be on the decline and Japan's stock saw some rise. Interests may be driving towards shifting to assets of low risk. On the US scene, POTUS has shown intent in having talks with the North Korean President if he is serious, same time looking to deepen economic partnership with Taiwan.
Fundamentally, Tuesday 24th is packed with very interesting news event which may cause volatility and trends in the Market such as the FOMC meetings S&P Aux pmi flash.
Technically, AudUsd remains in a bearish trend and still trading below the ema. currently, i highlighted a supply zone on the 4hr chart from where price fell to the downside and the demand zone as well. last week saw a bullish correction move.
the price is currently at a liquidity level i expect to be swept and if price approaches the supply zone up, i would find a sell entry to trade in line with the trend.
I look forward to your contribution and opinion. Thank you for your support on YT.
