Free Profitable Forex Newsletter
Hey! This is Philip with this week's trade idea of the Free Profitable Forex Newsletter!
AUDUSD has recovered toward the 0.7200 resistance area amid positive developments in the US-China trade negotiations. However, the slow and only gradual rise in the price in response to the “good news” suggests that it will be difficult for AUDUSD to stage a major breakout above such an important resistance.
With the US Dollar likely to stay firm and an increasing number of economists expecting a further slowdown in the Australian economy, AUDUSD seems like an attractive sell at levels near the 0.7200 area.
- Near the 0.7200 area; current levels of around 0.7180 are also acceptable entries as this price is close to the resistance.
Stop loss:
- Above the 0.7200 resistance area. This could, however, stretch toward the 0.7230 level specifically, which should hold any bullish attempts.
Target:
- Toward the 0.7080 support trendline
Trade signals from the past week
- February 20, 2019 – Short EURJPY from 125.80, target reached at 125.50 = +30 pips profit
TOTAL: +30 pips profit in the last week
TOTAL: +950 pips profit since the beginning of October
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Any opinions, news, research,
predictions, analyses, prices or other information contained in this newsletter is provided as general market commentary and does not constitute investment advice. FX Trading Revolution will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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