Daily forex market briefing
December 1/2021
The Australian dollar rose sharply against the greenback on Wednesday after concern about the omicron variant shook the entire major currency market.
The dollar is one of the most liquid major currency trading instruments, has felled by almost 0.3% following the federal reserve hawkish remarks on a rate hike in the near term.
Both of these fundamental economic outlooks have put the greenback in the middle of weak market strength, hence the likelihood of AUDUSD going bullish before the year runs is strictly certain. However, diving further into what the technical analysis has in store for the market players.
We will discover that across the hourly chart the price of AUDUSD had been struggling with the motives of the sellers as the price of the asset steadily slide aggressively to the south. However, from the daily price chart, the overall market tone of the currency pair hold firm to a long term bullish price action.
Indicator analysis
The ATR value is considerably trading above the ground peak, likewise, the RSI indicator shows a sign of price coming into stabilizing ratio. Hence the probability of price scaling beyond this level is considered to be high.
To prevent yourself from suspicious brokers I choose WikiFx to research brokers:
December 1/2021
The Australian dollar rose sharply against the greenback on Wednesday after concern about the omicron variant shook the entire major currency market.
The dollar is one of the most liquid major currency trading instruments, has felled by almost 0.3% following the federal reserve hawkish remarks on a rate hike in the near term.
Both of these fundamental economic outlooks have put the greenback in the middle of weak market strength, hence the likelihood of AUDUSD going bullish before the year runs is strictly certain. However, diving further into what the technical analysis has in store for the market players.
We will discover that across the hourly chart the price of AUDUSD had been struggling with the motives of the sellers as the price of the asset steadily slide aggressively to the south. However, from the daily price chart, the overall market tone of the currency pair hold firm to a long term bullish price action.
Indicator analysis
The ATR value is considerably trading above the ground peak, likewise, the RSI indicator shows a sign of price coming into stabilizing ratio. Hence the probability of price scaling beyond this level is considered to be high.
To prevent yourself from suspicious brokers I choose WikiFx to research brokers:
