Continuing the downward trend at the end of September
✍️ NOVA hello everyone, Let's comment on AUDUSD price next week from 25-30/9/23
🔥 World situation:
The Australian Dollar (AUD) is making a comeback against the Greenback (USD) on Friday and is poised to end the week with significant gains. The weakness of the US Dollar, coupled with investors' interest in taking risks and declining US Treasury bond yields, are driving this reaction. As a result, the AUD/USD pair has risen by 0.51% and is currently trading at 0.6448 after bouncing back from its low of 0.6403.
The Aussie Dollar's rise can be attributed to a decline in business activity in the United States (US), as reported by S&P Global. Rather than gaining momentum, business activity has remained subdued and even decelerated. While there has been some improvement in manufacturing PMI, it still falls below the threshold of 50 that signifies expansion rather than contraction. Additionally, both Services and Composite PMIs have managed to stay within expansionary territory but have recorded lower readings compared to August.
Overall, these factors have contributed to the resurgence of the Australian Dollar against its US counterpart as investors seek higher returns amidst a weaker US currency and concerns about economic activity in America.
🔥 Identify:
The technical model still supports a price drop at the end of September, economic data has not changed much, selling pressure is still present.
🔥 Technically:
Based on the resistance and support areas of the AUD/USD price according to the D1 frame, NOVA identifies the important key areas as follows:
Resistance: 0.66100
Support : 0.62700
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
🔥 World situation:
The Australian Dollar (AUD) is making a comeback against the Greenback (USD) on Friday and is poised to end the week with significant gains. The weakness of the US Dollar, coupled with investors' interest in taking risks and declining US Treasury bond yields, are driving this reaction. As a result, the AUD/USD pair has risen by 0.51% and is currently trading at 0.6448 after bouncing back from its low of 0.6403.
The Aussie Dollar's rise can be attributed to a decline in business activity in the United States (US), as reported by S&P Global. Rather than gaining momentum, business activity has remained subdued and even decelerated. While there has been some improvement in manufacturing PMI, it still falls below the threshold of 50 that signifies expansion rather than contraction. Additionally, both Services and Composite PMIs have managed to stay within expansionary territory but have recorded lower readings compared to August.
Overall, these factors have contributed to the resurgence of the Australian Dollar against its US counterpart as investors seek higher returns amidst a weaker US currency and concerns about economic activity in America.
🔥 Identify:
The technical model still supports a price drop at the end of September, economic data has not changed much, selling pressure is still present.
🔥 Technically:
Based on the resistance and support areas of the AUD/USD price according to the D1 frame, NOVA identifies the important key areas as follows:
Resistance: 0.66100
Support : 0.62700
🔥 NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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