MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Fundamental Analysis of AUD/USD for January 17, 2018

AUD/USD has been non-volatile and impulsive with the bullish gains for a while. Despite having mixed economy reports AUD has been sustaining the gaining very well since the Employment Change report showed a positive increase last month. Today AUD Westpac Consumer Sentiment report was published where it showed a decrease to 1.8% from the previous value of 3.6% and Home Loans report showed significant increase to 2.1% from the previous negative value of -0.6% which was expected to be at -0.1%. On the other hand, ahead of the upcoming Building Permits report to be published this week, today USD Capacity Utilization Rate report is going to be published which is expected to have slight increase to 77.3% from the previous value of 77.1%, Industrial Production is expected to increase to 0.4% from the previous value of 0.2% and NAHB Housing Market Index is expected to have slight decrease to 73 from the previous figure of 74. As of the current scenario, AUD is expected to take its gain much further in the coming days as USD is expected to have less influence on the market with mixed economic reports and high impact reports with negative forecasts this week. Though AUD bullish streak is expected to be over by the coming days as USD may counter strong off the event levels.

Now let us look at the technical view, price is currently quite impulsive with the bullish gains where it is expected to reach 0.8050 resistance area in the coming days before showing any impulsive bearish pressure to counter in this pair. If the price rejects off the 0.8050 with a daily close which is more probable due to Bearish Divergence is being emerged in the meantime, so bears are expected to pressurize the price off the 0.8050 area to push lower with target towards 0.7750 support area in the coming days.

analytics5a5f3de360897.png

The material has been provided by InstaForex Company - www.instaforex.com