AUDUSD Trade Idea (20th February 2020)
Currency Pair: AUDUSD
Timeframe: H1
Date/Time of Signal: 20th February 2020 / 1430hrs (SGT)
Review:
Australian Dollar weaken after China failed to impress financial markets with a widely expected injection of monetary stimulus and Australian Unemployment rate rose to 5.3% last month higher than forecast.
Yesterday (19th February 2020), USD strengthened as the U.S. housing data released yesterday were better than forecasted and minutes of the FOMC suggested that the current interest rates are likely to remain at the current level.
AUDUSD has been on a downtrend and has broken through the Resistance level of 0.6670.
Following the trend, trade signaled to Sell AUDUSD (Entry: 0.6647) with 3 Take Profit (TP) Targets (TP1: 0.6627, TP2: 0.6607, TP3: 036587) and Stop Loss (SL) at 0.6677.
Timeframe: H1
Date/Time of Signal: 20th February 2020 / 1430hrs (SGT)
Review:
Australian Dollar weaken after China failed to impress financial markets with a widely expected injection of monetary stimulus and Australian Unemployment rate rose to 5.3% last month higher than forecast.
Yesterday (19th February 2020), USD strengthened as the U.S. housing data released yesterday were better than forecasted and minutes of the FOMC suggested that the current interest rates are likely to remain at the current level.
AUDUSD has been on a downtrend and has broken through the Resistance level of 0.6670.
Following the trend, trade signaled to Sell AUDUSD (Entry: 0.6647) with 3 Take Profit (TP) Targets (TP1: 0.6627, TP2: 0.6607, TP3: 036587) and Stop Loss (SL) at 0.6677.