Hey Guys, Hope you guys enjoyed the previous Scalping Trade in AUDUSD. Lets me share another one, we have a potential trade in AUD/USD, it is trading just above a potential support level of 0.7600 and consolidates in a trading range of 0.7645 – 0.7600 as we can see in the trading chart given below.
Currently, the Volatility is still low, as traders await ADP Non-Farm Employment Change due today.

Fundamentals:

USD: ADP Non-Farm Employment Change
Previous: 177K
Forecast: 166K

We will see stronger Dollar if ADP Non-Farm Employment Change beats expectations and is likely to cause sell in AUDUSD.

Technical Levels:

S 0.7557 0.7588 0.7608
Pivot: 0.7639
R: 0.7670 0.7690 0.7721

Recommendation:
After News: If ADP Non-Farm Employment Change Beats Expectation
Sell Stop Below 0.7600
SL: 0.7635 TP: 0.7565

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.