Friday , September 20 2024
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First Take Profit Achieved, Hold Sell AUD

Forex Trades 225 Views

After the impressive comeback for the USD at the end of this week, and the surprising interest rate cut from the ECB president yesterday, and the good Non Farm Payrolls coming from the USA, it is expected that risk aversion will dominate the theme next week.

Will continue to hold the Australian Dollar- Sell AUD position from 0.9480 to target level 0.9330 and 0.9250 in extension.

Pivot: 0.9500

Stop Loss: A close above 0.9520 with probability to extend to recent highs

Conviction:  Psychological level and multiple resistance level. Trend Line boundary level on the 4 hour chart and Moving average crossing on the 1 hour chart. Fundamental Analysis

Support 1 Support 2 Support 3 Resistance 1 Resistance 2 Resistance 3
0.9350 0.9330 0.9300 0.9400 0.9450 0.9480

 

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About Razi Hammouda

Razi’s professional experience was gained over the course of more than a decade working with leading Forex market makers in the Middle East, Asia and Europe where he learned about trading, financial instruments and global markets. Being exposed to the wide range of skills he acquired along the years, he continued to develop his trading strategies and further improving his track record in Forex trading. He used innovative business development strategies to find FXLORDS, helping it to rapidly become a major provider of education and trading tools to the successful trader. He is an enthusiastic individual, motivated by challenge and renowned for pushing the limits, always looking to gain some more experience and help as much as possible along the way.

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