BIDU at the Beginning of a New Uptrend?
BIDU at the Beginning of a New Uptrend?
Today’s strong stimulus measures from China have lifted market sentiment.
“China announced a slew of stimulus measures to boost its economy on Tuesday, September 24. The PBOC doubled down on its monetary policy easing by cutting both the 7-day reverse repo rate and banks’ reserve requirement ratio (RRR).”
China’s yuan hit a 16-month high, while the Australian dollar reached a 2024 peak after the central bank reiterated its determination to tame inflation.
BIDU also benefited from this new bullish sentiment by breaking a strong resistance zone near $90. If the price manages to hold this zone, we could see the beginning of a bullish wave soon, with targets at $96.50, $103, and further up to $112
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Today’s strong stimulus measures from China have lifted market sentiment.
“China announced a slew of stimulus measures to boost its economy on Tuesday, September 24. The PBOC doubled down on its monetary policy easing by cutting both the 7-day reverse repo rate and banks’ reserve requirement ratio (RRR).”
China’s yuan hit a 16-month high, while the Australian dollar reached a 2024 peak after the central bank reiterated its determination to tame inflation.
BIDU also benefited from this new bullish sentiment by breaking a strong resistance zone near $90. If the price manages to hold this zone, we could see the beginning of a bullish wave soon, with targets at $96.50, $103, and further up to $112
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Trade closed: target reached
BIDU: Two Targets Reached :)
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
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.