Forex Signal For AUD/USD: H&S Pattern Points To More Drops!
Forex Signal For AUD/USD: H&S Pattern Points To More Drops!
AUD/USD is likely to continue its downward trend after US PPI data, Fed Board member Beige Book and Fed Chairman Jerome Powell's statements.
Bear Market Outlook
- Sell the AUD/USD pair to take a profit at 0,400.
- Add a stop-loss at 0,7525.
- Timetable: 1-2 days.
Forex Signal For AUD/USD:H&S Pattern Points To More Drops!
Bull Market Outlook
- Set a buy-stop at 0,7490 and a take profit at 0,7550.
- Add a stop-loss at 0,7430.
The AUD/USD pair erased some of its losses on Tuesday following the strong US consumer inflation data. The pair climbed to a significant high of 0,7470 from Tuesday's low of 0,7410.
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