AUDUSD Outlook Week - 6 May 2024
AUDUSD Outlook
Analysis Week - 6 May 2024
Daily - Range / Bullish
Cloud (D) - Above Cloud
Weekly - Range
Cloud (W) - Within Cloud
Mid Term - Range
20 x 50 D SMA - Below
50 x 200 D SMA - Above
Notes:
RBA Jan 24 - AUD FAIR VALUE ~ 0.6800
______________________________
Trade Identification Area of Interest
Buy @ 0.6500-0.6550
TP @ 0.6650-0.6750
SL @ 0.6440-0.6460
RR @ 1:1-3
All information provided is based on my personal experience and it does not ensure future profits. This is NOT a trade recommendation for you to copy. If you decide to act upon the posted information, the trade decision is taken at your own risks. Any advice given is deemed to be GENERAL advice.
This information or advice given does not take into account your full objectives, current financial situation or needs. Therefore, you should consider the appropriateness of the advice before you act further.
The trading of stocks, futures, options, spread betting, spread trading and CFD trading and any other leveraged trading activity involves risk. You should not trade with money you can’t afford to lose. Be honest with yourself.
Thank You for browsing here. I wish you the best of luck and hope you make a fortune. Just make sure you do it over time and don’t try to make your millions in a week or day.
Analysis Week - 6 May 2024
Daily - Range / Bullish
Cloud (D) - Above Cloud
Weekly - Range
Cloud (W) - Within Cloud
Mid Term - Range
20 x 50 D SMA - Below
50 x 200 D SMA - Above
Notes:
RBA Jan 24 - AUD FAIR VALUE ~ 0.6800
______________________________
Trade Identification Area of Interest
Buy @ 0.6500-0.6550
TP @ 0.6650-0.6750
SL @ 0.6440-0.6460
RR @ 1:1-3
All information provided is based on my personal experience and it does not ensure future profits. This is NOT a trade recommendation for you to copy. If you decide to act upon the posted information, the trade decision is taken at your own risks. Any advice given is deemed to be GENERAL advice.
This information or advice given does not take into account your full objectives, current financial situation or needs. Therefore, you should consider the appropriateness of the advice before you act further.
The trading of stocks, futures, options, spread betting, spread trading and CFD trading and any other leveraged trading activity involves risk. You should not trade with money you can’t afford to lose. Be honest with yourself.
Thank You for browsing here. I wish you the best of luck and hope you make a fortune. Just make sure you do it over time and don’t try to make your millions in a week or day.
Trade closed: target reached:
Target Area reached without a trade entry.
Moving on to the next trade.
Moving on to the next trade.
Daily - Range
Cloud (D) - Above Cloud
Weekly - Range
Cloud (W) - Within Cloud
Mid Term - Range
20 x 50 D SMA - Below
50 x 200 D SMA - Above
Comments:
We had neutral / mixed outcome from RBA MPC Meeting on 7 May 2024. Recent economic data from CN has been supportive for risk and AUD.