Technical Analysis AU200

Dmitry Lukashov IFC Markets

Indicator	Signal
RSI	Neutral
MACD	Sell
Donchian Channel	Neutral
MA(200)	Buy
Fractals	Buy
Parabolic SAR	Buy

Chart Analysis

On the daily timeframe AU200: D1 has risen above 200-day moving average MA(200) which is rising. This is bullish. We believe the bullish momentum will continue after the price breaches above the upper Donchian boundary at 7196.21. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 7089.01. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (7089.01) without reaching the order (7196.21) we recommend cancelling the order: the market sustains internal changes which were not taken into account.

Fundamental Analysis

Australia’s consumer confidence and PMI improved more than forecast. Will the AU200 increase continue?

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Author

Dmitry Lukashov

IFC Markets

Dimtry Lukashov is the senior analyst of IFC Markets. He started his professional career in the financial market as a trader interested in stocks and obligations.

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