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 February 22, 2018

AUD/USD has been quite impulsive with the bearish pressure which is currently proceeding towards the support area of 0.7750. AUD has been struggling with the worse economic reports recently which affected its gains against USD. Recently, the Australian Construction showed an increase to 19.4% from the previous reading of 16.6% which was a significant decrease in Housing Development. The worse economic report affected the overall growth of AUD against USD recently. Today on the USD side, Unemployment Claims report was published with better outcome at 222k decreasing from the previous figure of 229k which was expected to increase to 230k. The positive economic report with a decrease in Unemployment Claims indicates the positive changes in the US jobs market which is expected to push the currency much higher against CAD. Moreover, today USD CB Leading Index report is going to be published which is expected to increase to 0.7% from the previous value of 0.6%, Natural Gas Storage is expected to show less deficit at -121B from the previous figure of 194B. The Crude Oil Inventories is expected to increase to 2.2M from the previous figure of 1.8M. Furthemore, FOMC Member Dudley is going to speak today about upcoming changes in the monetary policy and interest rate decision which is expected to be hawkish. To sum up, USD is expected to gain more momentum in the coming days against AUD whereas certain correction may be observed before the price becomes impulsive with the bearish pressure pushing the price much lower in the future.

Now let us look at the technical view. The price has been quite impulsive with the bullish gains today after having a week of bearish pressure in the pair. The price is currently residing below the dynamic level of 20 EMA whereas certain correction is expected before it proceeds lower towards 0.7750 and later towards 0.7550 support area in the coming days. As the price remains below 0.80 price area, the bearish bias is expected to continue further.

analytics5a8ed1d03b4ae.png

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