AUDUSD neutral

Trading days on the Australian and U.S. news

17 may 2022 88
Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
1st in the segments "Indices", "US stocks" and "Metals"
2nd in the segment "Currencies"
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Tomorrow, at 15:30 Moscow time, the U.S. real estate market statistics will be updated in terms of the Housing Starts and the Housing Starts (MoM), i.e. the events that demonstrated a significant average profitability of one transaction in news trading.



The forecasts are showing that Housing Starts will decrease, which is likely to affect negative the U.S. dollar in the short term.


 


On May, 19, at 4:30 am Moscow time, Australian labor market statistics will be updated with the Unemployment Rate - an event that also points to the significant average profitability of a transaction in news trading.


 

The Unemployment Rate is predicted to reduce, which is likely to support the Australian dollar in the short term.

 



Thus, in the next two days, excellent opportunities appear, and the implementation of news trading strategy is possible by selecting the appropriate AUDUSD currency pair.

 

The pair is medium volatile. Comparing the Australian and the U.S. economies, the Australian one seems to be more appealing, so this fact again comes out in favor of the Australian dollar and predicts a possible pair’s growth:




Technically speaking, today the pair is correcting after the April’s decline, and is approaching the 23.6% Fibonacci retracement level with upside potential to the 38.2% level.



 

Possible trading strategies (M15 timeframe):

 

May, 18

 

1) Forecasts are confirmed, so the U.S. real estate market indicators will decline. The following steps are executed:

 

Buy AUDUSD as the statistics update.

Establish Take Profit at 0.1-0.2% above the trade opening price.

Set Stop Loss below the Low quote of the previous day.

Or close the position in 8 hours after the statistics update.

 

 

2) Forecasts are not confirmed, so the U.S. real estate market indicators will grow. The following steps are executed:

 

Sell AUDUSD as the statistics update.

Establish the target Take Profit order at 0.1-0.2% below the trade opening price.

Set the protective Stop Loss order above the High quote of the previous day.

Or close the position in 8 hours after the statistics update.

 

 

3) The U.S. real estate market indicators remain the same or change in different directions:

Refrain from entering the market.

 

 

 

 

May, 19

 

1) Forecasts are confirmed, so the Australia’s unemployment rate will decrease. The following steps are executed:

 

Buy AUDUSD when the statistics update.

Set Take Profit at 0.1-0.2% above the trade opening price.

Set Stop Loss below the Low quote of the previous day.

Or close the position in 8 hours after the statistics update.

 

 

2) Forecasts are not confirmed, so Australia's unemployment rate will grow. The following steps are executed:

 

Sell AUDUSD as the statistics update.

Establish the target Take Profit order at 0.1-0.2% below the trade opening price.

Set the protective Stop Loss order above the High quote of the previous day.

Or close the position in 8 hours after the statistics update.

 

 

3) Australia's unemployment rate remains unchanged:

 

Refrain from entering the market.

 

 

 

 

Attention!

Trading on financial markets involves high levels of risk and can result in the investment capital loss. MarketCheese team shall not be liable for possible loss of your investment funds.

Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
1st in the segments "Indices", "US stocks" and "Metals"
2nd in the segment "Currencies"
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