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*

Technical analysis of AUD/USD for May 18, 2018

analytics5afe1fa34d564.png

Overview:

The AUD/USD pair will continue to rise from the level of 0.7490. The support is found at the level of 0.7490, which represents the 50% Fibonacci retracement level in the H1 time frame.

The price is likely to form a double bottom. Today, the major support is seen at 0.7490, while immediate resistance is seen at 0.7535. Accordingly, the AUD/USD pair is showing signs of strength following a breakout of a high at 0.7509. So, buy above the level of 0.7509 with the first target at 0.7535 in order to test the daily resistance 1 and move further to 0.7550.

Also, the level of 0.7568 is a good place to take profit because it will form a double top. Amid the previous events, the pair is still in an uptrend; for that we expect the AUD/USD pair to climb from 0.7509 to 0.7568 today. At the same time, in case a reversal takes place and the AUD/USD pair breaks through the support level of 0.7490, a further decline to 0.7450 can occur, which would indicate a bearish market.

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