AUDUSD - touch trendline + resistance - set up SELL
AUDUSD trend forecast December 06, 2024
The Australian Dollar (AUD) dips slightly on Friday as weaker-than-expected economic growth raises concerns about the Reserve Bank of Australia (RBA) potentially adopting a dovish stance in its upcoming monetary policy meeting. This could pave the way for a rate cut in February, adding downward pressure on the Aussie.
Attention now shifts to the US November employment data, including Nonfarm Payrolls (NFP), the Unemployment Rate, and Average Hourly Earnings. Forecasts suggest 200,000 jobs were created in November, following a modest increase of 12,000 in October. A weaker-than-expected result could weigh on the US Dollar, offering potential support for the AUD/USD pair.
H1 forms a bearish trendline - in the context of the dollar recovering and increasing in price. The bearish trend is still believed today December 6, 2024
/// SELL AUD/USD : zone 0.64400 - 0.64600
SL: 0.64800
TP: 40 - 80 - 120 pips (0.63400)
Safe and profitable trading
The Australian Dollar (AUD) dips slightly on Friday as weaker-than-expected economic growth raises concerns about the Reserve Bank of Australia (RBA) potentially adopting a dovish stance in its upcoming monetary policy meeting. This could pave the way for a rate cut in February, adding downward pressure on the Aussie.
Attention now shifts to the US November employment data, including Nonfarm Payrolls (NFP), the Unemployment Rate, and Average Hourly Earnings. Forecasts suggest 200,000 jobs were created in November, following a modest increase of 12,000 in October. A weaker-than-expected result could weigh on the US Dollar, offering potential support for the AUD/USD pair.
H1 forms a bearish trendline - in the context of the dollar recovering and increasing in price. The bearish trend is still believed today December 6, 2024
/// SELL AUD/USD : zone 0.64400 - 0.64600
SL: 0.64800
TP: 40 - 80 - 120 pips (0.63400)
Safe and profitable trading
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