Australian Dollar: USD / AUD (AUD = X) enjoying an optimistic jobs report and a focus on other people's problems
The Australian dollar has stabilized on higher ground, enjoying an optimistic employment report and a focus on the problems of others. The Reserve Bank of Australia stands out next week. Here are the highlights of the week and an updated AUD / USD technical analysis.
Australia had a gain of at least 32,800 jobs in October and unemployment stood at 5%. Encouraging numbers supported the Aussie. In the US, the data was a little disappointing, with minor shortfalls in retail sales and inflation. On the other hand, negotiations between the US and China are progressing and this is positive for the Australian dollar. The Australian dollar also benefited from the focus on Brexit, which hurt the pound sterling, impacted the euro and also moved the yen safe haven, but left the Aussie unharmed. At the end of the week, several Fed officials, such as Clarida, Kaplan and Harker, expressed concern about the global economy and seemed in no hurry to raise interest rates. The US dollar suffered.
Overall, the price bias is: up.
The projected upper limit is: 0.74.
The lower limit projected is: 0.72.
The projected closing price is: 0.73.
A black body occurred (because prices closed below what they opened).
During the last 10 bars, there were 6 white candles and 4 black candles for a net of 2 white candles. During the last 50 bars, there were 27 white candles and 23 black candles for a net of 4 white candles.
Momentum is a general term used to describe the speed at which prices move over a period of time. Generally, changes in momentum tend to lead to price changes. This specialist shows the current values of four popular momentum indicators.
One method of interpreting the stochastic oscillator is to look for overbought areas (above 80) and overbought areas (below 20). The stochastic oscillator is 89.3661. This is an overbought read. However, a signal is not generated until the oscillator crosses below 80. The last signal was sold 6 period (s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (over 70) and oversold (below 30) areas. The current value of the RSI is 62.28. This is not an area of coverage or background. A buy or sell signal is generated when the RSI leaves an overbought / oversold area. The last signal was a purchase period of 138 (s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (over 100) and overbought (below -100) areas. The current value of the CCI is 133. This is an overbought reading. However, a signal is not generated until the indicator crosses below 100. The last signal was a sales period of 6 (s) ago.
The Mobile Average Convergence / Divergence Indicator (MACD) emits signals when it crosses its 9-period signal line. The last sign was a purchase period of 25 (s) ago.
Rex Takasugi – Profile TD
FOREX AUD = closed at -0.002 at 0.731. The volume was 97% below average (consolidating) and Bollinger Bands was 53% wider than normal.
Open High Close Close Volume___
0.732 0.733 0.730 0.731 2.838
Intermediate Term: Bullish
Long Term: Bassist
Moving averages: period of 50 periods of 50 periods
Close: 0.73 0.72 0.74
Volatility: 10 10 10
Volume: 117,763 112,796 105,135
Short-term traders should pay more attention to the buy / sell arrows, while medium- to long-term traders should place greater emphasis on the upward or downward trend reflected in the lower range.
The FOREX AUD = is currently 1.9% below the moving average of 200 periods and is in a bullish trend. The volatility is high compared to the average volatility in the last 10 periods. Our volume indicators reflect the input and output volume of AUD = at a relatively equal (neutral) rate. Our trend forecast oscillators are currently bullish on AUD = and have had this outlook over the past 9 periods.
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