ridethepig | AUD Market Commentary 2020.01.10

Ending the week with instructive profit taking from bulls in exemplary fashion....Average hourly earnings disappointing but nothing to write home about. Highlights in the report going to manufacturing jobs getting crushed via protectionism and those maintaining longs now have a free hand to play the next short-term swing.

I love it when USD goes for a walk.

The move in play for the coming sessions and looks difficult to defend against. I am tracking 0.6925x to prevent the breakup for bulls this week and trigger profit taking. After an exchange of direction flanking works decisively well and the execution timing-wise is of importance.

For those tracking the 2020 AUD Macro map and digging into the fundamental side I would highly recommend checking the following diagram:

Thanks for keeping the support coming with likes, comments and etc. If you have any questions/charts as usual jump into the comments and we can open the conversations. Good luck all those in AUD.

Commentaire:

We will need a hand from NY to clear 0.692x otherwise this looks over.

Transaction en cours:

Updated chart here:

Trade fermée: cible de profit atteinte:

All cleared here .. well done shorts !