AUDUSD - BUY - 13th July 2022




AUDUSD - BUY - 13th July 2022 (Closed)


Good evening team,

We are back in action as the economic calendar is heating up leading into the end of the trading week.

First up, the US reports its next round of CPI data. Yesterday, the DXY surged to the upside and equities sunk lower as a FAKE US CPI report was published online claiming CPI increased by 10.2%, much higher than the forecast of 8.8%. The news resulted in a knee jerk reaction and the DXY appears to be fading from its most recent high. There is some upside pressure building on the AUDUSD leading into the event, and we are looking to hopefully catch the bottom.

DXY Index – Daily Chart

There has been an evening star candle stick formation at the top of the trend line/channel formation. We are looking for a sizeable pull back on the DXY from this level.

AUDUSD Daily Chart

 

Trade Setup: BUY market execution, current price 0.6782, stop loss 0.6702 and take profit 0.6968.

Stop loss: 80 pips

Take profit: 186 pips

Trade Setup
BUY - Market Execution

Entry
0.6782

Take Profit
0.6968

Stop Loss
0.6702