Growth Aces Research Team
Growth Aces
Do you want to know which are the Current Trading Positions of our contributors? Get a glance here.
GROWTHACES.COM Forex Trading Strategies
Taken Positions:
EUR/USD: (Full Access - VIP Subscription Only)
USD/JPY: (Full Access - VIP Subscription Only)
USD/CHF: (Full Access - VIP Subscription Only)
USD/CAD: (Full Access - VIP Subscription Only)
AUD/USD: long at 0.7030, target 0.7190, profit locked in at 0.7120, risk factor **
NZD/USD: (Full Access - VIP Subscription Only)
EUR/GBP: (Full Access - VIP Subscription Only)
Pending Orders:
EUR/JPY: (Full Access - VIP Subscription Only)
EUR/CAD: (Full Access - VIP Subscription Only)
CHF/JPY: sell at 123.00, target 120.50, stop-loss 124.00, risk factor **
AUD/NZD: (Full Access - VIP Subscription Only)
EUR/USD: Eyes On Yellen And Fischer
(Full Access - VIP Subscription Only)
AUD/USD: Profit Locked In At 0.7120 After Strong Jobs Report
(long for 0.7190)
Australian employment surged 58.6k in October, much above the market forecast of 15k. This increase was made up of a rise of 40k in full-time employment, while part-time employment rose 18.6k. Unemployment rate dropped to 5.9% from 6.2% in September. The market expected a reading of 6.2%.
Interbank futures slid after strong jobs report as the market greatly lengthened the odds on another cut in interest rates. However, investors still expect a cut next year. In our opinion the monetary easing cycle has ended and the next rate change will be a hike.
The AUD/USD jumped to 0.7153 after the employment data. We stay long for 0.7190, but have locked in our profit at 0.7120.
Significant technical analysis' levels:
Resistance: 0.7153 (session high Nov 12), 0.7169 (high Nov 6), 0.7222 (high Nov 4)
Support: 0.7061 (low Nov 12), 0.7026 (low Nov 11), 0.7017 (low Nov 10)
Our research is based on information obtained from or are based upon public information sources. We consider them to be reliable but we assume no liability of their completeness and accuracy. All analyses and opinions found in our reports are the independent judgment of their authors at the time of writing. The opinions are for information purposes only and are neither an offer nor a recommendation to purchase or sell securities. By reading our research you fully agree we are not liable for any decisions you make regarding any information provided in our reports. Investing, trading and speculation in any financial markets may involve high risk of loss. We strongly advise you to contact a certified investment advisor and we encourage you to do your own research before making any investment decision.
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