$AUDUSD - Important data this week, be prepared.

10 dec. 2022

AUDUSD - Get ready...

Another week, another great opportunity for us traders to take advantage of.

This week is a very important week: CPI, FOMC & PMIs.

It was a difficult week, choppy action but that happens when we have important data this week. It's important to reserve your capital gains when market conditions are like this kangaroo or amber mode is way I describe it.

Some are stating the CPI print will be more important than FOMC - I think it will be both very important as we go towards year end we still have plenty of trading opportunities and this week is a great week.

We expect CPI to soften, 7.7% previous to 7.3% - If it comes in softer the rate hikes working, we expect 50 basis point for this meeting and the next and then we expect cuts - Now the market is forward looking we've seen risk play big part DXY declining cuts coming into play, easing less pressure dollar declines: we have Aussie, Gold and crypto escalate higher. What Powell will state will be very important in my humble opinion as we get to year end and positioning for portfolio management I have no set direction on yet to decide the movement for this week, we are within mid ranges of all assets - you could trade the data or wait and trade the after reaction.

Regarding past data on Friday we had PPI: It came stronger than expected however we had minor dip in EUR we still went to rising back, now within the mid ranges. The dollar bears are still out there but will they get hurt this week? Only time will tell.

Technically AUDUSD: We are within ranges a break to either direction, at this current moment of time we arent closing above 200ema if we are to close above bulls could gain further control up we go towards .70 areas easily - if not this rally fails and goes back towards .64 half areas


All the best for this week,

Trade Journal

(FOLLOW YOUR OWN TRADE PLAN - NOT A SIGNAL PROVIDER)