Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Last week AUDUSD found support between 1.33261 and 1.32278 and formed a range in the first 3 days of the week.
With a confirmed break it started to show some bullish bias and formed a short-term trend line which it broke earlier this week.
Now the price seems to retest the 1.33261 level, something important to mention here is that the RSI is starting to have a positive divergence.
If the price bounces to this important level, we may see the price move around R1
If the price fails to bounce back and break below this level, we may see the price move back into this range.
DJ30 for the past 2 weeks has been in an uptrend, with no sign to the contrary.
Now the price is at an important level which is a resistance level in the higher time frame.
If the price finds resistance at this level, we may see a correction around 50%.
If the price successfully breaks above this level, this is a game changer, we may see the bullish action continue.
Crypto sector in general is in a bear market, from a short term view sol has manged to make higher highs and lower highs.
Now we may see a correction until 13.30 and a bounce back until the most recent higher high which is around 14.95.
If the price fail to bounce and break below trendline and support we migh see the price going back to the most recent lower low which is around 10.94
Online Chat Chat with us
Copyright © 2023 - All rights reserved.
SohoMarkets (Cyprus) is a Trade name of Vstar & Soho Markets Ltd which is registered as a Cyprus Investment Firm (CIF) and licensed by the Cyprus Securities and Exchange Commission (CySEC) under licence number 409/22.
Vstar & Soho Markets Ltd. provides services to residents of the European Economic Area (excluding Belgium), Switzerland, India, Indonesia, Malaysia, Philippines and Vietnam.