The Australian Dollar enjoyed the relief rally in markets. Can it continue forward? Here is their view, courtesy of eFXdata: NAB discusses AUD/USD technical outlook and flags a scope for an extended short squeeze higher. “Series of lower highs / lower lows (MT downtrend structure) was broken this week with the break of the last correction high at 0.7160. 2018 downtrend line and 50-day MA also broken in the 0.7150/70 range. Breakouts confirm an evolving multi-week correction and target a 38.2% retracement towards 0.7447. A weekly close above 0.7213 will complete a bullish multi-week candle pattern (tower bottom) and add weight to the interim uptrend bias,” NAB argues. For lots more FX trades from major banks, sign up to eFXplus By signing up for eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam AUD/USD Daily Outlooks share Read Next Bitcoin Cash bulls get what they needed – a breakout FX Street 4 years The Australian Dollar enjoyed the relief rally in markets. Can it continue forward? Here is their view, courtesy of eFXdata: NAB discusses AUD/USD technical outlook and flags a scope for an extended short squeeze higher. "Series of lower highs / lower lows (MT downtrend structure) was broken this week with the break of the last correction high at 0.7160. 2018 downtrend line and 50-day MA also broken in the 0.7150/70 range. Breakouts confirm an evolving multi-week correction and target a 38.2% retracement towards 0.7447. A weekly close above 0.7213 will complete a bullish multi-week candle pattern (tower bottom) and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
