empty
 
 
21.11.2019 01:34 AM
Trading idea for the AUD/USD pair

Good evening, dear traders! The growth of AUD / USD is what is interesting today. As we remember, unemployment data was published in Australia last week on November 14, to which this instrument reacted negatively: the AUD/USD currency pair was declining throughout the whole day. An important detail is that during the fall, an important extreme at 0.6810 was updated. Thus, I believe that this was a culmination of the downward trend in November, and given the reaction of the Australian dollar to this week's news, I think that local growth is possible to the level of 0.6843, which is the news' high on Wednesday. Now, why exactly this level? It's simple - every seller who believes in a further fall of this instrument will clearly depend precisely on the news impulse on November 14, so the price can go there with a high degree of probability.

This image is no longer relevant

Recommendation: try to buy in order to update the level of 0.6943. At the same time, losses can be limited to the lowest level of 0.6788 - there is no sense in holding purchases below, and in case of updating this minimum, the bullish scenario can be considered invalid.

Wishing you all success in trading and huge profits!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback