Aussie Dollar Possible Bullish Turn
*My first published idea testing it out :)
Although I'm still long term bearish on AUD due to the continuing fall of commodities as related to China and Australia's association in those exchanges and the Australian government wanting a lower AUD to increase foreign investment technically I would suggest a small correction could be possible here for the short term up to the highest resistance level as shown above which is where if this happens I would consider profit taking or a tight stop loss.
Indicators show a potentially bullish move and with heavy selling in the last months I would not suggest a long term position on this one and a tight stop loss, but I see more potential technically for a move upwards rather than downwards furthermore the previous bearish channel has been broken out of and rarely has this happened in the previous months.
Best of luck safe and happy trading :)
Although I'm still long term bearish on AUD due to the continuing fall of commodities as related to China and Australia's association in those exchanges and the Australian government wanting a lower AUD to increase foreign investment technically I would suggest a small correction could be possible here for the short term up to the highest resistance level as shown above which is where if this happens I would consider profit taking or a tight stop loss.
Indicators show a potentially bullish move and with heavy selling in the last months I would not suggest a long term position on this one and a tight stop loss, but I see more potential technically for a move upwards rather than downwards furthermore the previous bearish channel has been broken out of and rarely has this happened in the previous months.
Best of luck safe and happy trading :)
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