Public central bank comments, easing Middle East tensions, and business sentiment updates drove price action this week, prompting our strategist to focus mainly on the Greenback and European currencies.
Out of five discussions, only one scenario/price outlook forecast saw both fundie & technical arguments triggered to become a potential candidate for a risk management overlay. Check out our review on that discussion to see what happened!
Watchlists are price outlook & strategy discussions supported by both fundamental & technical analysis, a crucial step towards creating a high quality discretionary trade idea before working on a risk & trade management plan.
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AUD/USD 30-min Forex Chart by TradingView
On Thursday , our strategists focused on the uptrend in AUD/USD after Australia printed hotter than forecast CPI numbers, and upcoming U.S. GDP & Core PCE Price inflation data to signal slower economic activity and inflation growth.
After our discussion, AUD/USD rallied further on both rising positive broad risk sentiment and hot Australian CPI vibes. Then the pair fell quickly during the U.S. GDP event, which did post disappointing economic growth/strong q/q Core PCE price growth, which on net was the fundamental trigger we were looking for to be long biased on AUD/USD.
The pair’s drop quickly stabilized around the Fibonacci retracement area marked in the original discussion, and for the who lean long bias with the fundamental drivers, likely saw a net positive outcome as the pair made new intraweek highs and held above the post discussion rate at the weekly close.
So once again, only one discussion was valid on both technical and fundamental fronts this week, but like we said last week, sometimes all you need is one good trade, right?
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منبع: https://www.babypips.com/trading/watchlist-recaps-april-22-25-2024
