AUDUSD Potential Forecast | 9th March 2023
Fundamental Backdrop
1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release.
2. Market sentiments surrounding the USD has been flipped bullish.
3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace.
Technical Confluences
1. Strong bearish momentum and pressure happening onto AUDUSD.
2. Price has broken certain key resistance levels and the latest one being 0.6627.
3. Given the strong bearish momentum, we can see price come further down in light of the NFP data release tomorrow.
Idea
I will be looking for price to continue its bearish momentum in the market.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
1. Fed Powell mentions that upcoming FOMC meeting stance is up to NFP data release.
2. Market sentiments surrounding the USD has been flipped bullish.
3. Fed Powell mentions that Fed would not hesitate to hike the i/r at a faster pace.
Technical Confluences
1. Strong bearish momentum and pressure happening onto AUDUSD.
2. Price has broken certain key resistance levels and the latest one being 0.6627.
3. Given the strong bearish momentum, we can see price come further down in light of the NFP data release tomorrow.
Idea
I will be looking for price to continue its bearish momentum in the market.
NOT FINANCIAL ADVICE DISCLAIMER
The trading related ideas posted by OlympusLabs are for educational and informational purposes only and should not be considered as financial advice. Trading in financial markets involves a high degree of risk, and individuals should carefully consider their investment objectives, financial situation, and risk tolerance before making any trading decisions based on our ideas.
We are not a licensed financial advisor or professional, and the information we are providing is based on our personal experience and research. We make no guarantees or promises regarding the accuracy, completeness, or reliability of the information provided, and users should do their own research and analysis before making any trades.
Users should be aware that trading involves significant risk, and there is no guarantee of profit. Any trading strategy may result in losses, and individuals should be prepared to accept those risks.
OlympusLabs and its affiliates are not responsible for any losses or damages that may result from the use of our trading related ideas or the information provided on our platform. Users should seek the advice of a licensed financial advisor or professional if they have any doubts or concerns about their investment strategies.
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