Double Tap and AWAY!! - AU
Here I have AUD/USD on the 1 Hr Chart!
Clear as day we can see 2 distinct Lows followed by a Pullback to .6653
Outlining what looks to be a Potential Double Bottom Pattern, I suspect we can see this pair move HIGHER!!
Adding Confluence to this idea is the fact we are getting a Strong RSI Divergence on these Lows showing Price is looking to head UP!
*Confirmation of Pattern comes when price BREAKS and CLOSES ABOVE CONFIRMATION!!
-Next we will look for a Retest of that Break for possible BUY OPPORTUNITIES!!
*Potential Target Profit being the Overhead Resistance Zone!
Clear as day we can see 2 distinct Lows followed by a Pullback to .6653
Outlining what looks to be a Potential Double Bottom Pattern, I suspect we can see this pair move HIGHER!!
Adding Confluence to this idea is the fact we are getting a Strong RSI Divergence on these Lows showing Price is looking to head UP!
*Confirmation of Pattern comes when price BREAKS and CLOSES ABOVE CONFIRMATION!!
-Next we will look for a Retest of that Break for possible BUY OPPORTUNITIES!!
*Potential Target Profit being the Overhead Resistance Zone!
Trade active:
Price has closed above and pulled back to the Confirmation of Pattern!
Buy Entry @ .6653
SL @ .6640
Buy Entry @ .6653
SL @ .6640
Comment:
HPI m/m - 7.4% Actual v 7.3% Forecast
HPI Y/y - .1% Actual v .5% Forecast
What makes y/y worse is the fact that this is a 1.1% decrease from April's 1.2%
Looking devastating for the USD!
HPI Y/y - .1% Actual v .5% Forecast
What makes y/y worse is the fact that this is a 1.1% decrease from April's 1.2%
Looking devastating for the USD!
With April numbers @ -.4%, this result is still a good turnout for AUD!