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 August 29, 2018

analytics5b8657eb0e83d.pngThe AUD/USD pair continued to move upwards from the level of 0.7263. Since yesterday, the pair has risen from the level of 0.7263 (the level of 0.7263 coincides with the ratio of 23.6% Fibonacci Expansion). In consequence, the AUD/USD pair broke resistance at 0.7263, which turned into strong support at the level of 0.7329. In the H1 time frame, the level of 0.7263 is expected to act as major support today. Currently, the price is moving in a bullish channel. This is confirmed by the RSI indicator signaling that we are still in a bullish market. The price is still above the moving average (100) and (50). From this point, we expect the AUD/USD pair to continue moving in the bullish trend from the support level of 0.7263 towards the target level of 0.7299. If the pair succeeds in passing through the level of 0.7299, the market will indicate the bullish opportunity above the level of 0.7299 so as to reach the second target at 0.7359 (pivot point). On the other hand, if the AUD/USD pair is able to break out the level of 0.7234, the market will decline further to 0.7204.

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